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.
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.
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.
Satya said:
9 years ago
What is the difference between selling price and cost price?
Mant said:
9 years ago
sp = 120percent of 5000 = 6000.
Gain = (6000 - 5000) * 100/5000 = 20percent.
Gain = (6000 - 5000) * 100/5000 = 20percent.
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.
Prasu said:
1 decade ago
How do you get the cost price?
Santhiya said:
9 years ago
@Sandy very much thanks. I'm more confused. Now my mind is happy with the solution.
Zahana said:
9 years ago
Ok. Then you are mean to say MRP is nothing but the list price. Am I right?
Femi Philip said:
9 years ago
The solution and explanation is awesome. Even kinder-garden kids could able to understand ;-P.
Puneet said:
10 years ago
Why not 2 and 3 true please explain?
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