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.
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.
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?
AnukulMoon said:
1 decade ago
First Statement is enough right?
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.
Rakesh Pandit said:
9 years ago
Both statements are necessary because we have to calculate s.p. and c.p. of one article first.
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.
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.
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.
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.
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