Aptitude - Profit and Loss - Discussion

1. 

A shopkeeper sells some articles at the profit of 25% on the original price. What is the exact amount of profit? To find the answer, which of the following information given in Statements I and II is/are necessary?

I. 

Sale price of the article

 II. 

Number of articles sold

[A]. Only I is necessary
[B]. Only II is necessary
[C]. Either I or II is necessary
[D]. Both I and II are necessary
[E]. None of these

Answer: Option D

Explanation:

Gain = 25% of C.P.

In order to find gain, we must know the sale price of each article and the number of articles sold.

Correct answer is (D).


Vaishu said: (Dec 9, 2010)  
I think the first statement is enough for that.

Is it correct?

Hukum said: (Jan 7, 2011)  
@Vaishu.

No. The sales price of each article multiplied with number of articles sold gives the total sales price.

Hence the statements 1&2 are necessary.

Sambhav said: (Jan 13, 2012)  
Here we have percentage,

So, 125/100*c.p= s.p.

Profit = s.p-c.p

where we need second answer.

Varsha said: (Jan 19, 2012)  
I think first statement is enough.There is no need of second statement.
and moreover s.p=125%C.P
I didn't how gain=25%C.P come.

Dinku said: (Mar 4, 2012)  
Here we dint ask to find profit per article. I think there is no need of second statement. What you say guys ?

Ragini said: (May 15, 2013)  
It says profit=25% on original price not 25% of original price.
Then how come profit=25% of CP.

It should be just 25%.
And indeed no need of 2nd statement.

Rusted said: (Jun 20, 2013)  
Shopkeeper sells "some" articles.

So to know "exact amount of profit" we need to know no. of articles. 2nd statement is not needed if profit per article is to be calculated.

@Dinku : Total Profit = profit per article * no. of articles.

@Raghini : 25% of what?

Shetty said: (Jun 26, 2013)  
We need both the cases as we are not calculating profit on single article no.of article*sales gives total C. P.

Nikita said: (Jun 14, 2014)  
But SP= 125% of CP from this we get the total SP and total CP for all the articles. Hence SP-CP will give the overall profit. Why do we need the 2nd statement?

Anukulmoon said: (Jul 20, 2014)  
First Statement is enough right?

Mustapha said: (Aug 20, 2014)  
The construct of the question is the root of the confusion. The question did not specify that he made the 25% gain on "each" of the "some", rather it created the impression that 25% was the aggregate gain on the "some". Hence second statement is inconsequential.

Sparsh Chandra said: (Mar 13, 2015)  
@Mustapha said it correct.

If gain is on per article cost then we will need both but if its on whole CP then only 1st is enough.

But we should always remember that in article case price is mostly determined per article not as a whole. So its by general knowledge and so both 1&2 will be answer.

That's what I believe.

Rahul said: (May 7, 2015)  
Why 2nd statement is required ?

Here we are finding out the exact profit on the sold of whole article. Question is not asking per article profit.

Rck said: (Jul 18, 2015)  
Just concentrate on the word "some". Question is not asking about profit of 1 article. That's Why we need both statements.

Kundan said: (Jul 23, 2015)  
I also think that statement 1 is enough. Because the profit or loss mainly depends on the sales price and cost price.

Kumar Harsha said: (Aug 2, 2015)  
Let SP = 100.

CP = (100*100)/125 = 80.

Profit = 20 which is exact amount of profit. So statement I is enough.

Mrityunjay said: (Sep 5, 2015)  
Carefully read the question, there mentioned some of the total article he sells with profit 25%, to find exact (total) amount of profit we need to no the number of article sold, which is mentioned in statement 2.

Vivek said: (Sep 11, 2015)  
I think only 1st statement is enough. No need of 2nd statement.

Dwarakaprasad Deshpande said: (Oct 8, 2015)  
According to me Answer is "E". Without C.P we cannot find either profit or loss. "Gain & loss is always reckoned on C.P".

And in this case there is no C.P specified. They have just stated it as original price.

Riham said: (Jan 14, 2016)  
Let's assume that number of articles sold are 5.

Sale price of the article is 1.5.

Then total sale is 1.5*5 = 7.5 with profit 25%.

= 25*7.5/100 = 30.

The exact amount of profit is 30.

Namya said: (May 28, 2016)  
I also think that the 1st Statement is enough for knowing the answer because we have to know only exact profit amount rather than profit amount on each article.

Kiran Kumar said: (Jul 17, 2016)  
The concept is, whatever gain % you get for one article is the same gain % on selling all the article. This is because the margin for one article is same as the margin for all the articles added up. And here the number of articles doesn't matter and the reason is explained as above. Thus only statement 1 is enough for this question.

The correct explanation for why statement 2 is not required is as explained above.

Pradeep said: (Aug 25, 2016)  
Dear friends,

The question says about "some articles" it does not state the number of the articles. And asking about the total profit the trader make after selling some items. I understand as in sp is 125% of cp and to find profit for a single item the formula is (sp-cp). But to find overall profit we need a number of items sold too. Hence statement 1 and 2 both are necessary requisites.

Rakesh Pandit said: (Sep 4, 2016)  
Both statements are necessary because we have to calculate s.p. and c.p. of one article first.

Sandipan Das said: (Nov 14, 2016)  
I think option C is correct.

Tanweer said: (Mar 13, 2017)  
If I bought 4 articles for rs400 and sold it for rs 500 then my total profit would be 25% and if I calculate it for each of the articles I'll 25% profit on each so there would be no need of no of articles to calculate CP. As 25% gain is liable to calculate.

Solve this.

Aman Singh said: (Apr 15, 2017)  
In the question, they ask only total profit so we need only 1st statement.

We need both statements when they ask the profit of each article.

Divyam Sharma said: (May 15, 2017)  
Only 1st statement is sufficient for this.

Let c.p = 100x
Profit = 25x
SP = 125x
So, if we have s.p then just compare it with s.p=125x.
Find x and then profit. You will get it.

Shatrujeet said: (Jun 14, 2017)  
Go either with the whole number of article or go with per article, both are the same thing unless each article didn't get sold for the same price. So, the 1st statement is enough to give the answer, since SP=125%of CP will give CP if SP is given.

Then exact profit can be calculated. Profit for a single article is same as the profit for the whole article.

Sai Reddy said: (Jul 25, 2017)  
We need both statements because in a problem we need to find out the exact amount of profit.

p = 1/4cp
sp = cp+1/4cp=5cp/4=>(1).

Let us assume sale price of an article be 60RS
Substitute in (1)
60=5cp/4=>cp=48.
Therefore profit =12 for one article only,
But we need to find out the total amount of profit for n articles=> total profit=12*n.
Therefore both statements are necessary.

Gaurav Mittal said: (Aug 31, 2017)  
Both statements are required to answer the question because in question it is saying 'some' and in this questions, there is nowhere mention that each article has the same price. That's why both articles are required for the answer this question!

Hope you have understood.

Avinash S Rathod said: (Sep 6, 2017)  
While Finding Exact Amount Of Articles We Should Know How Much Article Is Been Sold.

While Finding CP We Should Know The SP.

So D Option Is Correct Statement.

Debolina Sarkar said: (Oct 4, 2017)  
Both the statements are required because here we are looking out for the "exact amount of profit ", not the profit percentage.

Vivek said: (Jan 28, 2018)  
To understand the above problem effectively, we have to consider the formula,

i.e gain% =gainx100/C. P
Put 25 in place of gain% as given in the
question.
Then, gain = (25/100) * C. P.
Hence, gain= 25%of C. P.

Prasanna said: (Mar 6, 2018)  
Assume any value of sp take 100 solve it neglecting the no of articles fact. You will end getting a profit of 25% anyway. Why do I need then both the statements?

Priyanka said: (Apr 2, 2018)  
I think the 1st option is valid.

Anonymous said: (Dec 7, 2018)  
Here, we have to find "Exact amount of profit".

By doing 25%CP we get profit on a single article, so we must know the "number of articles" to find total profit.

Roshani said: (Apr 27, 2019)  
The first statment is enough to find the exact amount of profit.
cp=100/(100+gain%)*sp.
once we get sp then;
profit = sp - cp.

Vineethaalexander said: (Aug 19, 2019)  
May be 1st statement is enough.

Abhijeet said: (Mar 23, 2020)  
Bt its not really required to know the number of articles sold. All you need to know to find is it's cp which can b done even by only knowing the sp.

Abdur Rahman said: (Apr 15, 2020)  
Option A is right.

L. S Entertainment said: (Feb 19, 2021)  
Let c.p for each article be 100.

Then 25% profit of 100 (c.p) = 100+25/100*100.
= 125 ( s.p of single/each article).

P = 125-100 (s.p-c.p) = (25 profit from single artice).
A/q,
We need to find the exact amount of profit.
Let say 5 article were sold.
Therefore profit = 5 * 25 = 125 total profit.
Therefore we need both s.p and number of article to find the total profit.

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