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 4 of 5.
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.
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.
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.
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.
AnukulMoon said:
1 decade ago
First Statement is enough right?
NIKITA said:
1 decade ago
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?
Shetty said:
1 decade ago
We need both the cases as we are not calculating profit on single article no.of article*sales gives total C. P.
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?
Ragini said:
1 decade ago
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.
Then how come profit=25% of CP.
It should be just 25%.
And indeed no need of 2nd statement.
Dinku said:
1 decade ago
Here we dint ask to find profit per article. I think there is no need of second statement. What you say guys ?
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers