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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 6 of 7.
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
Sourav said:   2 decades ago
Can anyone explain how I and III give d answer?

I think d answer should be A.
Sidharth said:   9 years ago
I think 2, 3 is also correct as MP can be expressed in terms of Discount.
Baljinder kaur said:   8 years ago
What is marked price formula?
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.
Shankar said:   8 years ago
1 & 3 will not give answer.

I think 1 and 2 or 2 & 3 will give answer.
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?
Rishu said:   9 years ago
But without discount percentage is already given 30%.
Akash said:   9 years ago
According to me, it should be A.
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'.
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