Aptitude - Profit and Loss - Discussion

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.

2. 

What was the percentage of discount given?

I. 

23.5% profit was earned by selling an almirah for Rs. 12,350.

 II. 

If there were no discount, the earned profit would have been 30%.

 III. 

The cost price of the almirah was Rs. 10,000.

[A]. Only I and II
[B]. Only II and III
[C]. Only I and III
[D]. Any two of the three
[E]. None of these

Answer: Option E

Explanation:

  I. S.P. = Rs. 12350, Gain = 23.5%

C.P. = Rs. 100 x 12350 = Rs. 10,000.
123.5

 II. M.P. = 130% of C.P. = 130% of Rs. 10,000 = Rs. 13,000.

From I and II, discount = Rs. (13000 - 12350) = Rs. 650.

Discount % = 650 x 100 % = 5%.
13000

Thus, I and II give the answer.

II and III can not give the answer. Because we require profit percentage with discount and profit percentage without discount. So II and III are not sufficient.

Since III gives C.P. = Rs. 10,000, I and III give the answer.

Therefore, I and II [or] I and III give the answer.

Correct answer is (E).


Sumit said: (Jun 20, 2010)  
can anyone explain, how II and III give the answer?

Sourav said: (Aug 25, 2010)  
Can anyone explain how I and III give d answer?

I think d answer should be A.

Nishant said: (Dec 3, 2010)  
I and II are necessary to get the answer

III is just redundant... it may be used it may be left...

so we can find the answer either using I & II or using all the 3 statements

Virender said: (Jan 17, 2011)  
I think answer should be 1.

We don't get any idea of discount or marked price by using 1 &3.

Can anyone explain how given ans is correct?

Sanjay said: (Mar 16, 2011)  
Answer is 1 only.

1 and 3 cannot give the result as each one of them just provides the c. P. Not the marked price.

Sumit Singh said: (Jun 26, 2011)  
Yes Answer should be 1 only.

Aditya said: (Sep 6, 2012)  
The answer is E because 1 gives the c.p and 3 also do the same. so with 2,anyone of 1 or 3 can give the answer.

Sakshi said: (Sep 23, 2012)  
The answer cannot be 2 and 3 since they give CP and MP but discount cannot be calculated as SP is not mentioned.

Ari said: (Sep 4, 2013)  
Can anyone explain how I and III give the answer?

Jaswant said: (Sep 22, 2013)  
@Sumit, @Ari.

I and III can't give the answer, as we are unable to find the discount from I or/and III.

Anji said: (Feb 3, 2014)  
Answer can be obtained by (1, 2) or (2, 3) ; But given NONE. Both the results are in the options, so I think Option E is wrong.

Roshni said: (May 10, 2014)  
I too think option e is wrong because 1 & 3 is not enough to give the answer. It is not giving any justification about the discount also option 1 alone is sufficient to calculate cost price III is not required.

I & II are necessary to give the answer.

Sugandha said: (Jun 5, 2014)  
I and III can't give the discount. Both the statements are calculating the same entity, that ie., the C.P. As has been given in the explanation, we need both profit percent with and without discount.

Anurag said: (Nov 16, 2014)  
1 and 2 give's the discount but 1 and 3 give's only CP, SP, profit but not discount.

2 and 3 also will give CP, SP, profit but not discount. Hence answer should be option A.

Sumit Singh said: (Mar 10, 2015)  
Answer must me [A], because if we consider only I and III, then both these options are giving the cost price only, it is not giving any information about the discount.

Therefore, answer must be [A], that is I and II are must to find the discount percentage.

Sparsh Chandra said: (Mar 13, 2015)  
Very confusing solution. Both I &II or II & III can give the answer.

Sanjeev- Bawandar said: (Mar 26, 2015)  
II and III can never give the solution, the correct answer should be A.

Amit Mandliya said: (Jul 22, 2015)  
Answer should be A because III is redundant information, moreover I or III cat give the answer.

Raman Kumar said: (Jul 25, 2015)  
I and III can't give answer, so the correct option should be (A).

Pintu Kumar said: (Aug 14, 2015)  
Definitely answer is A not E as one and three can not give the discount.

Prosenjit said: (Oct 2, 2015)  
I and II are necessary to answer. But II and III are not sufficient to answer. Because, to find the discount we need selling prize & marked prize. From II and III, we can't get the selling prize.

Renu said: (Dec 4, 2015)  
1 and 3 results in 0% discount.

Akshay said: (Jun 26, 2016)  
According to me, it should be option A.

Amit said: (Jul 14, 2016)  
I think the answer is wrong, It should be option A.

Pranaya said: (Jul 28, 2016)  
The correct answer should be A.

Sidharth said: (Aug 21, 2016)  
I think 2, 3 is also correct as MP can be expressed in terms of Discount.

Bhargavi said: (Aug 28, 2016)  
How can I and III give the answer?

The correct option should be A.

Swati said: (Sep 2, 2016)  
I and III can give the answer for the case where discount is zero. As it is already mentioned in the solution that two cases are considered 'with discount' & 'without discount'.

Akash said: (Sep 6, 2016)  
According to me, it should be A.

Rishu said: (Sep 23, 2016)  
But without discount percentage is already given 30%.

George said: (Sep 29, 2016)  
It should be option A. You can work out statement III. Through the maths of statement I. Therefore you only need statements I and II.

Tell me, if I am missing something?

Shankar said: (Mar 27, 2017)  
1 & 3 will not give answer.

I think 1 and 2 or 2 & 3 will give answer.

Siddhi said: (Mar 31, 2017)  
Only 1 and 2 are needed because if we consider 1 and 3 we get the profit after discount but to calculate discount % we need the amount or %age profit earned if there was no discount.

So only I and II are needed i.e. the correct option is A.

Baljinder Kaur said: (Aug 9, 2017)  
What is marked price formula?

Ravi said: (Nov 8, 2017)  
1 and 2 are sufficient to give the answer.

Rohit said: (May 17, 2018)  
The correct answer is A. Here 1 & 3 can't give the discount % as no info regarding discount can be gathered there.

Asa said: (Jul 7, 2018)  
Why it is not D?

Joejose said: (Jul 21, 2018)  
Answer is None of these.

The correct explanation is; 1 and 2 OR 1, 2 and 3 can give us the answer (either 1 or 3 can be redundant). The option 'ONLY' 1 and 2 is hence wrong.

Akash said: (Aug 31, 2018)  
According to me, it is either 1 or 3.

Jashr said: (Sep 29, 2018)  
@Nishant.

IIIrd statement is redundant, we can solve this problem using statement I & II or I, II & III.

But they had asked the necessary statements required to answer the question, so I & II are sufficient to answer the question. Therefore option A should be the answer.

Akshay said: (Mar 6, 2019)  
Option A is correct.

Ankit said: (May 30, 2019)  
Here, Only 1 and 2 are sufficient to give the answer so A should be the answer.

Swati said: (Sep 20, 2019)  
Option A is the correct answer.

Saty said: (Oct 13, 2019)  
Please give a detailed solution.

Shivji Shah said: (Mar 6, 2020)  
Answer: is A. As II and III cannot give S.P. To get discount on M.P. We need to calculate discount percentage.

Rubbal said: (Jun 23, 2020)  
The answer is option A. Only 1 and 2.

Suraj said: (Jul 16, 2020)  
@All.

The discount from 1and 2 we can easily calculate whereas discount from 1and 3 is 0 aa given no disconut. Since both are possible results hence non of these is correct as correct answer is also possible by removing given answers. So none of these is the correct one.

Jeevan said: (Jul 19, 2020)  
According to me, Option A is the right answer.

Sagar said: (Aug 18, 2020)  
The answer should be A.

For 0% discount, any of the options should mention MP then only using 3 we can say that since CP is given and by using 1 we can find SP and as SP and MP are same the discount is 0%. But, this is not the case so the answer should be A (only 1 and 2).

Aditya Gupta said: (Aug 27, 2020)  
The correct answer is A.

Here 1 & 3 can't give the discount % as no info regarding discount can be gathered there. I and III can't give the percentage of the discount.

Sudhanshu said: (Dec 26, 2020)  
A is correct.

As discount % = 100(MP-SP)/MP.

I give info about SP and CP can be calculated.
II helps calculate MP=130%(CP). {MP is SP without any discount}
Thus discount % = 5% using I and II info.
III gives CP directly.

I and III give CP and SP but not MP so the discount can't be calculated.
II and III give MP and CP but not SP so discount can't be calculated.

Sam said: (Jul 21, 2021)  
Why not d? Explain.

Pranathi said: (Aug 4, 2021)  
option A is correct. I and II together can give an answer and III is not necessary. So, option A is correct.

Sidharth said: (Sep 13, 2021)  
Option E is correct. Because I and II, as well as II and III, are the right options, but there is no such option available. So we have to opt "none of these. " To make it further clear, we only need CP and MP to calculate the discount and discount %. We will get MP from option II.

Also, we can get CP from either I or III.

[Note: It's not necessary to verify whether the CP is got by confirming the application of discount% as CP is fixed as we are talking about the same commodity].

Sidharth said: (Sep 13, 2021)  
Option E is correct. Because I and II, as well as II and III, are the right options, but there is no such option available. So we have to opt "none of these. " To make it further clear, we only need CP and MP to calculate the discount and discount %. We will get MP from option II.

Also, we can get CP from either I or III.

[Note: It's not necessary to verify whether the CP is got by confirming the application of discount% as CP is fixed as we are talking about the same commodity].

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