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 2 of 3.
Femi Philip said:
9 years ago
The solution and explanation is awesome. Even kinder-garden kids could able to understand ;-P.
Zahana said:
9 years ago
Ok. Then you are mean to say MRP is nothing but the list price. Am I right?
Santhiya said:
9 years ago
@Sandy very much thanks. I'm more confused. Now my mind is happy with the solution.
Sandy said:
9 years ago
Yes, Exactly Zahana. MRP is nothing but the list price.
Ravi Kotecha said:
9 years ago
Here we assuming initial gain of 100% and then we are taking increased gain of 120%. But if we will take any unknown gain of R%, then all statement must required.
Mant said:
9 years ago
sp = 120percent of 5000 = 6000.
Gain = (6000 - 5000) * 100/5000 = 20percent.
Gain = (6000 - 5000) * 100/5000 = 20percent.
Satya said:
9 years ago
What is the difference between selling price and cost price?
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)
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.
Anonymous said:
7 years ago
Why can't I and III?
(2)
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