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.
Aay Jay said:
8 years ago
I think Profit amount can not be calculated.
As per question, Difference in CP and SP is Rs.40/- it is Profit per unit.
CP will be Rs.200 as per question and SP Rs. 240.
Now Profit earned requires quantity.
As per question, Difference in CP and SP is Rs.40/- it is Profit per unit.
CP will be Rs.200 as per question and SP Rs. 240.
Now Profit earned requires quantity.
Manish said:
8 years ago
Answer will be C.
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.
Soumava Nag said:
8 years ago
The Answer should be D.
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.
Siddharth said:
2 decades ago
SP=120
CP=120/1.20
CP=100
Profit=SP-CP=20
This give an answer too. Though it gives a different answer, it still works.
Hence the answer according to me is C.
CP=120/1.20
CP=100
Profit=SP-CP=20
This give an answer too. Though it gives a different answer, it still works.
Hence the answer according to me is C.
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?
Naveena said:
9 years ago
I didn't understand this question, please can anyone explain clearly?
Amit panchal said:
9 years ago
The correct answer is option c.
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