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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 5 of 7.
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.
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.
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.
Jaswant said:   1 decade ago
@Sumit, @Ari.

I and III can't give the answer, as we are unable to find the discount from I or/and III.
Amit Mandliya said:   1 decade ago
Answer should be A because III is redundant information, moreover I or III cat give the answer.
Sakshi said:   1 decade ago
The answer cannot be 2 and 3 since they give CP and MP but discount cannot be calculated as SP is not mentioned.
Aditya said:   1 decade ago
The answer is E because 1 gives the c.p and 3 also do the same. so with 2,anyone of 1 or 3 can give the answer.
Sumit singh said:   1 decade ago
Yes Answer should be 1 only.
Sanjay said:   1 decade ago
Answer is 1 only.

1 and 3 cannot give the result as each one of them just provides the c. P. Not the marked price.
Virender said:   1 decade ago
I think answer should be 1.

We don't get any idea of discount or marked price by using 1 &3.

Can anyone explain how given ans is correct?
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