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Aptitude - Profit and Loss - Discussion

Discussion Forum : Profit and Loss - Data Sufficiency 3 (Q.No. 2)
Profit and Loss
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.

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.

Only I and II
Only II and III
Only I and III
Any two of the three
None of these
Answer: Option
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).

Discussion:
69 comments Page 2 of 7.
Aryaman said:   3 years ago
I and III can give the answer only when we know that without the discount, the profit per cent would be 30%. Without knowing that, we can't calculate the discount percentage.
(3)
Ali Murtaza said:   3 years ago
Neither II & III Nor I & III provide the discount percentage. So, A should be the correct answer in my point of view.
(2)
Tarang said:   4 years ago
According to me, the right Answer is option A.
(1)
Nitin nikam said:   4 years ago
Option A should be the correct answer.
Sidharth said:   4 years ago
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].
(2)
Sidharth said:   4 years ago
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].
Pranathi said:   4 years ago
option A is correct. I and II together can give an answer and III is not necessary. So, option A is correct.
Sam said:   4 years ago
Why not d? Explain.
Sudhanshu said:   5 years ago
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.
Aditya Gupta said:   5 years ago
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.
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