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 3 of 3.
Jayant said:
8 years ago
What if cost price is 10 rs per piece then how one can calculate profit%?
(1)
Yasir said:
8 years ago
I can't understand this problem please any body is here so solve clearly.
Sanjeev Gurung said:
6 years ago
Explanation:
@Yasir maybe it would help:
First of all, we need to find gain%, not the gain amount. So there is no need of count of toys as far we have SP and CP of one toy. Let's go with the example below:
Let's assume CP of 1 toy = 200.
And SP of 1 toy= 250.
So, gain% = (250- 200)/200*100= 25 %.
If we raise the no of toys i.e 2,3,5. So on,
Now, CP of 2 toys= 200*2= 400,
And SP of 2 toys= 250*2= 500,
Gain%. = (500-400)/400*100= 25%.
So, basically, %age would remain the same for any number of item sold and it is the gain or loss amount that changes.
@Yasir maybe it would help:
First of all, we need to find gain%, not the gain amount. So there is no need of count of toys as far we have SP and CP of one toy. Let's go with the example below:
Let's assume CP of 1 toy = 200.
And SP of 1 toy= 250.
So, gain% = (250- 200)/200*100= 25 %.
If we raise the no of toys i.e 2,3,5. So on,
Now, CP of 2 toys= 200*2= 400,
And SP of 2 toys= 250*2= 500,
Gain%. = (500-400)/400*100= 25%.
So, basically, %age would remain the same for any number of item sold and it is the gain or loss amount that changes.
(5)
Yuvatharani said:
5 years ago
In this question, they have mentioned S.P of some toys is Rs.250 they did not mention as S.P of one toy is Rs.250. Even if we have a cost price of one toy we can't find the profit per cent since we don't know the selling price of one toy. So, I think option C is correct.
(6)
Samlikha said:
5 years ago
@Sanjeev Gurung .
Thank you so much your explanation was very clear and to the point.
How would one find the exact c.p?
Thank you so much your explanation was very clear and to the point.
How would one find the exact c.p?
Lucky Vishwakarma said:
2 years ago
In this question, as it is not mentioned that each toy will have the same CP, the CP of each toy may be different.
Hence only the CP of each toy is necessary to calculate the Selling price.
Hence only the CP of each toy is necessary to calculate the Selling price.
Saiyed said:
2 years ago
The selling price of each toy is given. So the Cost price of each toy is what we need to find.
Profit% formula is [ (Profit of each toy)/(Cost price of each toy)] × 100.
Profit% formula is [ (Profit of each toy)/(Cost price of each toy)] × 100.
(1)
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