Aptitude - Profit and Loss - Discussion
Discussion Forum : Profit and Loss - Data Sufficiency 1 (Q.No. 2)
2.
A shopkeeper sells some toys at Rs. 250 each. What percent profit does he make? To find the answer, which of the following information given in Statements I and II is/are necessary? | |
I. | Number of toys sold. |
II. | Cost price of each toy. |
Answer: Option
Explanation:
S.P. = Rs. 250 each.
To find gain percent, we must know the C.P. of each.
Correct answer is (B).
Discussion:
27 comments Page 2 of 3.
Abiy said:
9 years ago
Nice expression to know ambiguity question.
Aryan said:
9 years ago
Gain% = [gain(for n items)/cost price(for n items)] * 100.
So,
Gain% = [gain/cost price] * 100.
Hence number of items don't matter.
So,
Gain% = [gain/cost price] * 100.
Hence number of items don't matter.
Om Tripathy said:
9 years ago
The answer should be C.
Balvant said:
9 years ago
I agree with the given answer, i.e B.
Ranjeetsinh said:
9 years ago
I agree with you @Om Tripathy.
The answer should be C.
The answer should be C.
Avinash said:
9 years ago
@Chandan.
Simple explanation, I agree with you.
Simple explanation, I agree with you.
(2)
Suresh said:
9 years ago
I can't understand it. Please explain how B is the answer?
(1)
Anish kumar said:
8 years ago
If we have to find the total profit or profit for each toy. Please help me to find the solution.
Rohit said:
8 years ago
Answer is B. No need to find a number of toys. Without this, we can calculate profit %.
Lets say for 1 toy sp=250. Cp=225 profit % =25/225*100=11.111.
Lets say for 5 toys sp=250*5=1250, cp=5*225. Profit=125. Profit% =125/1125*100=11.11.
So it does not matter to consider a number of toys as profit percent is independent of it.
Agree?
Lets say for 1 toy sp=250. Cp=225 profit % =25/225*100=11.111.
Lets say for 5 toys sp=250*5=1250, cp=5*225. Profit=125. Profit% =125/1125*100=11.11.
So it does not matter to consider a number of toys as profit percent is independent of it.
Agree?
Aman said:
8 years ago
It didn't mention that whether we have to find total profit% or profit% on each toy.
(2)
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