Aptitude - Profit and Loss - Discussion
Discussion Forum : Profit and Loss - Data Sufficiency 1 (Q.No. 1)
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 |
Answer: Option
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).
Discussion:
44 comments Page 1 of 5.
Kiran kumar said:
9 years ago
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.
The correct explanation for why statement 2 is not required is as explained above.
(1)
Sai reddy said:
8 years ago
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.
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.
Pradeep said:
9 years ago
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.
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.
L. S ENTERTAINMENT said:
5 years ago
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.
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.
(8)
Shatrujeet said:
8 years ago
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.
Then exact profit can be calculated. Profit for a single article is same as the profit for the whole article.
Sparsh Chandra said:
1 decade ago
@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.
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.
Vivek said:
8 years ago
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.
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.
MUSTAPHA said:
1 decade ago
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.
Rusted said:
1 decade ago
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?
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?
Gaurav Mittal said:
8 years ago
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.
Hope you have understood.
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