Aptitude - Profit and Loss - Discussion
Discussion Forum : Profit and Loss - Data Sufficiency 3 (Q.No. 1)
Directions to Solve
Each of the questions given below consists of a question followed by three statements. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question.
1.
By selling an article what is the profit percent gained? | |
I. | 5% discount is given on list price. |
II. | If discount is not given, 20% profit is gained. |
III. | The cost price of the articles is Rs. 5000. |
Answer: Option
Explanation:
I. Let the list price be Rs. x.
| Then, S.P. = 95% of Rs. x = Rs. |  |
x x | 95 |  |
= Rs. | 19x |
| 100 | 20 |
II. When S.P. = Rs. x and gain = 20%.
| Then, C.P. = Rs. | |
100 | x x | |
= Rs. | 5x |
| 120 | 6 |
 Gain = |
|
19x | - | 5x | |
= | |
57x - 50x | |
= | 7x |
| 20 | 6 | 60 | 60 |
| Gain % = |
|
7x | x | 6 | x 100 | % = 14%. |
| 60 | 5x |
Thus, I and II only give the answer.
Correct answer is (A).
Discussion:
27 comments Page 1 of 3.
Abhijeet raghuwanshi said:
4 years ago
I want to say that if we take 2nd statement only.
Let the selling price be x.
Gain percentage =20% (given in 2nd statment).
Gain percentage= ( (sp-cp) /cp) *100.
Therefore 20= ( (x-cp) /cp) *100.
Which gives cp= (5/6) *x.
Profit percentage = ( (sp-cp) /cp) *100.
Profit percentage= ( (x- (5/6) x) / (5/6) x) *100.
Profit percentage=20% approximately.
Am I right? Correct me If I am wrong.
Let the selling price be x.
Gain percentage =20% (given in 2nd statment).
Gain percentage= ( (sp-cp) /cp) *100.
Therefore 20= ( (x-cp) /cp) *100.
Which gives cp= (5/6) *x.
Profit percentage = ( (sp-cp) /cp) *100.
Profit percentage= ( (x- (5/6) x) / (5/6) x) *100.
Profit percentage=20% approximately.
Am I right? Correct me If I am wrong.
Cubie said:
4 years ago
S.P = (100-5)% of X.
95%of X (X= MRP).
How we can write: S.P = (100-5)% of X? Explain, please.
95%of X (X= MRP).
How we can write: S.P = (100-5)% of X? Explain, please.
Saurav said:
5 years ago
Why not II and III? Please explain.
(1)
Sudhanshu said:
5 years ago
I think we can also come to a solution using II and III;
CP = 5000.
SP = 120%(CP) = 6000.
Thus profit = 1000 and profit% = 20%.
CP = 5000.
SP = 120%(CP) = 6000.
Thus profit = 1000 and profit% = 20%.
(3)
Jey ShreeMen G.R. said:
5 years ago
@Sandy.
Thanks for your explanation.
Thanks for your explanation.
Cherry said:
5 years ago
@Sandy.
Thanks for explaining the solution.
Thanks for explaining the solution.
Arpan Das said:
6 years ago
Why II & III couldn't be the answer?
C.P=5000;then if 20% profit is gained the profit amount will be = 1000,
Then by the formula, Gain%=(Gain*100)/C.P.
C.P=5000;then if 20% profit is gained the profit amount will be = 1000,
Then by the formula, Gain%=(Gain*100)/C.P.
Anonymous said:
7 years ago
Why can't I and III?
(2)
Athul krishna said:
9 years ago
Why can't II and III find?
Cost price = 5000;
SP = 120% 5000 = 6000.
Cost price = 5000;
SP = 120% 5000 = 6000.
Sonika singh said:
9 years ago
List price and cost price are two different terms.
List price is we can say what is written on the product whereas cost price is at what price it is given to the customer. So don't get confused with both the terms. This will make you understand the question easily.
List price is we can say what is written on the product whereas cost price is at what price it is given to the customer. So don't get confused with both the terms. This will make you understand the question easily.
(1)
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