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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.
Siddhi said:   8 years ago
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.
Prosenjit said:   10 years ago
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.
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.
Swati said:   9 years ago
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'.
Nishant said:   1 decade ago
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
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.
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)
Joejose said:   7 years ago
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.
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.
George said:   9 years ago
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?
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