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Aptitude - Profit and Loss - Discussion

Discussion Forum : Profit and Loss - Data Sufficiency 2 (Q.No. 2)
Profit and Loss
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.

I alone sufficient while II alone not sufficient to answer
II alone sufficient while I alone not sufficient to answer
Either I or II alone sufficient to answer
Both I and II are not sufficient to answer
Both I and II are necessary to answer
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.
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.
Anomii said:   7 years ago
According to me, the amount of profit is difference of selling price and cost price.
Ronnie said:   3 years ago
I think the correct answer is D as it is not mentioned if SP> CP or not.
(4)
Naveena said:   9 years ago
I didn't understand this question, please can anyone explain clearly?
Kushagra said:   1 decade ago
Ans is C we can also find the ans from 2nd equation.
Saumya said:   8 years ago
Answer should be C as 2nd option too gets answer.
Amit panchal said:   9 years ago
The correct answer is option c.
Ram said:   1 decade ago
What @Debojit said is correct?
Nitin nikam said:   4 years ago
I think option C is correct.
(6)
Soumava Nag said:   8 years ago
The Answer should be D.
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