Aptitude - Profit and Loss - Discussion
Discussion Forum : Profit and Loss - Data Sufficiency 2 (Q.No. 2)
Directions to Solve
Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and
- Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
- Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
- Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
- Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
- Give answer(E) if the data in both Statements I and II together are necessary to answer the question.
2.
By selling a product with 20% profit, how much profit was earned? | |
I. | The difference between cost and selling price is Rs. 40. |
II. | The selling price is 120 percent of the cost price. |
Answer: Option
Explanation:
Gain = 20%
I. Profit = (S.P.) - (C.P.) = Rs. 40.
Thus, I give the answer. But, II does not give the answer.
Correct answer is (A).
Discussion:
31 comments Page 2 of 4.
Sparsh Chandra said:
1 decade ago
Let CP be Rs. 100 then 20% profit gives SP = Rs. 120.
So difference here comes just Rs. 20. So the statements are contradictory.
Again the mentioned 20% profit and the profit in statement is Rs. 40. But Profit% doesn't come 20% but it is 40%.
Profit = SP-CP= Rs. 40 in statement I.
Then profit% = Profit/CP*100 = 40/100*100 (assumed CP is Rs. 100).
So profit % = 40%.
Thus question is options are incorrect. The second option is repeated for no means as 20% profit or 120% of CP means the same for SP.
So difference here comes just Rs. 20. So the statements are contradictory.
Again the mentioned 20% profit and the profit in statement is Rs. 40. But Profit% doesn't come 20% but it is 40%.
Profit = SP-CP= Rs. 40 in statement I.
Then profit% = Profit/CP*100 = 40/100*100 (assumed CP is Rs. 100).
So profit % = 40%.
Thus question is options are incorrect. The second option is repeated for no means as 20% profit or 120% of CP means the same for SP.
Srikar pidaparthi said:
1 decade ago
Answer is D.
1) In question it is given cp-sp ("not sp-cp i.e. gain") which gives loss.
So its of no use in the equation.
2) Its given sp = 120%cp.
= 6/5 cp.
Now, sp-cp = profit.
(6/5) cp-cp = profit.
= 0.5 cp which is answer hence answer is A.
Hope I was able to help you all.
1) In question it is given cp-sp ("not sp-cp i.e. gain") which gives loss.
So its of no use in the equation.
2) Its given sp = 120%cp.
= 6/5 cp.
Now, sp-cp = profit.
(6/5) cp-cp = profit.
= 0.5 cp which is answer hence answer is A.
Hope I was able to help you all.
Amit panchal said:
9 years ago
The correct answer is option c.
Naveena said:
9 years ago
I didn't understand this question, please can anyone explain clearly?
Chandrasekhar said:
9 years ago
Actually, I this question the difference between CP and SP is 40 i.e. loss.
How can you solve it as profit?
How can you solve it as profit?
Lijiya said:
9 years ago
The statement 1 should be like this to make option A as the answer; the difference between SP and CP is 40.
Apurv said:
9 years ago
Let CP = x and SP = 1.2x.
Profit = SP-CP=1.2x-1x = 0.2x.
0.2x = 40,
So, x = 200,
CP = 200,
SP = 240,
Profit = SP-CP=240-200 = 40,
So, statement-2 alone is also sufficient.
Profit = SP-CP=1.2x-1x = 0.2x.
0.2x = 40,
So, x = 200,
CP = 200,
SP = 240,
Profit = SP-CP=240-200 = 40,
So, statement-2 alone is also sufficient.
Soumava Nag said:
8 years ago
The Answer should be D.
Saumya said:
8 years ago
Answer should be C as 2nd option too gets answer.
Pranav said:
8 years ago
@ALL.
1) option 1 is correct alone as,
CP-SP = profit.
And that is what is asked not profit percentage, which some of these idiots have calculated.
2) Let CP be x.
then SP = 1.2x.
SP-CP = 0.2x = PROFIT.
(SP-CP)/CP = Profit percentage = 20% (GIVEN).
You can't take out the value of CP from here Hence profit will be unknown.
1) option 1 is correct alone as,
CP-SP = profit.
And that is what is asked not profit percentage, which some of these idiots have calculated.
2) Let CP be x.
then SP = 1.2x.
SP-CP = 0.2x = PROFIT.
(SP-CP)/CP = Profit percentage = 20% (GIVEN).
You can't take out the value of CP from here Hence profit will be unknown.
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