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 3 of 5.
Rakesh Pandit said:
9 years ago
Both statements are necessary because we have to calculate s.p. and c.p. of one article first.
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.
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)
Namya said:
9 years ago
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.
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.
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.
Vivek said:
10 years ago
I think only 1st statement is enough. No need of 2nd statement.
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.
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.
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.
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers