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.
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. |
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).
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].
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.
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.