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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 4 of 7.
Sam said:   5 years ago
Why not d? Explain.
Pranathi said:   5 years ago
option A is correct. I and II together can give an answer and III is not necessary. So, option A is correct.
Sidharth said:   5 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].
Nitin nikam said:   5 years ago
Option A should be the correct answer.
Susmita Maity said:   1 year ago
I am not getting this. Please explain to me in detail.
Ari said:   1 decade ago
Can anyone explain how I and III give the answer?
Sanjeev- bawandar said:   1 decade ago
II and III can never give the solution, the correct answer should be A.
Sparsh Chandra said:   1 decade ago
Very confusing solution. Both I &II or II & III can give the answer.
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.
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.
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