Aptitude - Profit and Loss

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

  • Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
  • Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
  • Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
  • Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
  • Give answer(E) if the data in both Statements I and II together are necessary to answer the question.
1. 

A man mixes two types of rice (X and Y) and sells the mixture at the rate of Rs. 17 per kg. Find his profit percentage.

I. 

The rate of X is Rs. 20 per kg.

 II. 

The rate of Y is Rs. 13 per kg.

A. I alone sufficient while II alone not sufficient to answer
B. II alone sufficient while I alone not sufficient to answer
C. Either I or II alone sufficient to answer
D. Both I and II are not sufficient to answer
E. Both I and II are necessary to answer

Answer: Option D

Explanation:

The ratio, in which X and Y are mixed, is not given.

So, both I and II together cannot give the answer.

Correct answer is (D).


2. 

By selling a product with 20% profit, how much profit was earned?

I. 

The difference between cost and selling price is Rs. 40.

 II. 

The selling price is 120 percent of the cost price.

A. I alone sufficient while II alone not sufficient to answer
B. II alone sufficient while I alone not sufficient to answer
C. Either I or II alone sufficient to answer
D. Both I and II are not sufficient to answer
E. Both I and II are necessary to answer

Answer: Option A

Explanation:

Gain = 20%

I. Profit = (S.P.) - (C.P.) = Rs. 40.

Thus, I give the answer. But, II does not give the answer.

Correct answer is (A).