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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.
Anji said:   1 decade ago
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:   1 decade ago
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:   1 decade ago
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:   1 decade ago
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:   1 decade ago
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:   1 decade ago
Very confusing solution. Both I &II or II & III can give the answer.
Sanjeev- bawandar said:   1 decade ago
II and III can never give the solution, the correct answer should be A.
Amit Mandliya said:   1 decade ago
Answer should be A because III is redundant information, moreover I or III cat give the answer.
Raman Kumar said:   1 decade ago
I and III can't give answer, so the correct option should be (A).
Pintu kumar said:   1 decade ago
Definitely answer is A not E as one and three can not give the discount.
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