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 2 of 5.
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.
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.
Rahul said:
1 decade ago
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.
Here we are finding out the exact profit on the sold of whole article. Question is not asking per article profit.
RCk said:
1 decade ago
Just concentrate on the word "some". Question is not asking about profit of 1 article. That's Why we need both statements.
Kundan said:
1 decade ago
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:
1 decade ago
Let SP = 100.
CP = (100*100)/125 = 80.
Profit = 20 which is exact amount of profit. So statement I is enough.
CP = (100*100)/125 = 80.
Profit = 20 which is exact amount of profit. So statement I is enough.
MRITYUNJAY said:
10 years ago
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:
10 years ago
I think only 1st statement is enough. No need of 2nd statement.
Dwarakaprasad Deshpande said:
10 years ago
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.
And in this case there is no C.P specified. They have just stated it as original price.
Riham said:
10 years ago
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.
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.
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