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 3 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.
SHUBHAM CHAUHAN said:
1 decade ago
Listen everyone, the question was how much is the profit. And in statement 1 they have directly given the answer that's 40. So only 1 is alone sufficient. So the answer is A.
Ram said:
1 decade ago
What @Debojit said is correct?
Ankur said:
1 decade ago
A is correct..read the question carefully. We are given profit % therefore to find profit we need to multiply 20/100 to profit(which is SP-CP).
Only 2nd can't give the answer as it does not provide the CP.
Only 2nd can't give the answer as it does not provide the CP.
Unknown said:
1 decade ago
y-x = 40.
y = 120% of x.
y = (1.2)x.
1.2x-x = 40.
=> x = 200.
=> % of gain = (40/200)*1000 = 20%.
y = 120% of x.
y = (1.2)x.
1.2x-x = 40.
=> x = 200.
=> % of gain = (40/200)*1000 = 20%.
Parveen said:
1 decade ago
2nd also give the answer.
If we let the cost price 200 then selling price will be.
200*120/100 = 240.
As in first equation the diff is 40 so we are getting it.
240-200= 40.
If we take second equation as I took above of 120%.
It also showing profit 20%.
i.e. 40/200*100= 20%.
So answer is E.
If we let the cost price 200 then selling price will be.
200*120/100 = 240.
As in first equation the diff is 40 so we are getting it.
240-200= 40.
If we take second equation as I took above of 120%.
It also showing profit 20%.
i.e. 40/200*100= 20%.
So answer is E.
Debojit said:
1 decade ago
Friends both statemnts will be necessary for finding the cp if concidered as x and sp if concidered as y.
ie y-x=40
and y=120% of x.
As we know profit % depends on cp not sp
ie y-x=40
and y=120% of x.
As we know profit % depends on cp not sp
Kushagra said:
1 decade ago
Ans is C we can also find the ans from 2nd equation.
Kalam said:
1 decade ago
Both you are wrong as you have supposed that cost price is 100 and selling price is 120 according to profit that's fine.
But my friends none of you release that you don't know any one of S.P or C.P.
We have to find real one from that we have supposed.
But my friends none of you release that you don't know any one of S.P or C.P.
We have to find real one from that we have supposed.
Manoj said:
1 decade ago
If cp=100 & profit = 20%
then SP will be 120.
hence
SP-CP NOT EQUal TO 40. but also it's equl to 20.
so acco. to me 1& 2 both r necessry...
then SP will be 120.
hence
SP-CP NOT EQUal TO 40. but also it's equl to 20.
so acco. to me 1& 2 both r necessry...
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