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.
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.
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)
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.
Rakesh Pandit said:
9 years ago
Both statements are necessary because we have to calculate s.p. and c.p. of one article first.
Sandipan Das said:
9 years ago
I think option C is correct.
TANWEER said:
8 years ago
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.
Solve this.
Aman singh said:
8 years ago
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.
We need both statements when they ask the profit of each article.
Divyam Sharma said:
8 years ago
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.
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:
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.
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.
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