Aptitude - Profit and Loss - Discussion

Each of these questions is followed by three statements. You have to study the question and all the three statements given to decide whether any information provided in the statement(s) is redundant and can be dispensed with while answering the given question.

1. 

What is the percent profit earned by the shopkeeper on selling the articles in his shop?

I. 

Labeled price of the articles sold was 130% of the cost price.

II. 

Cost price of each article was Rs. 550.

 III. 

A discount of 10% on labeled price was offered.

[A]. Only I
[B]. Only II
[C]. I and III
[D]. All the three are required
[E]. Question cannot be answer even with information in all the three statements.

Answer: Option C

Explanation:

  I. Let C.P. be Rs. x.

Then, M.P. = 130% of x = Rs. 13x .
10

III. S.P. = 90% of M.P.

Thus, I and III give, S.P. = Rs. 90 x 13x = Rs. 117x
100 10 100

Gain = Rs. 117x - x = Rs. 17x
100 100

Thus, from I and III, gain % can be obtained.

Clearly, II is redundant.


Giriganesh said: (Aug 18, 2010)  
This is not easy, pls anybody explain me?

Showry said: (Jan 6, 2011)  
hey guys what i think is........All the three are required

1)L.P=130% of C.P ==> L.P=[(100+130)/100]* c.p

2)c.p=550.rs L.p= (230/100)*550.....L.P=1265.rs

3)10% discount on L.P..... So,
lets take L.p as C.P to find loss

10=(loss*100)/1265....

and loss=126.5 rs

Now Article actually sold at S.P= L.P-loss

S.P =1265-126.50
S.P= 1138.50 rs
But Profit %?????????????????

C.P=550 & S.P=1138.50 Profit= 588.50

P % = (588.50*100)/550
P%=17%
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Vicky said: (Jan 7, 2011)  
I agree with this

Shikha said: (Sep 17, 2011)  
But to find out p% we require cp.

Chandra Shekar said: (Jan 6, 2012)  
I'm getting confused always, dozens, quantal, real etc, please give the details for that sir.

Suprith said: (Aug 4, 2012)  
All the three are required to answer the question. Moreover, the answer must be definitive enough and since the II statement gives the C.P, that datum is required.

Bhuvnesh Bhu Mca said: (Sep 28, 2012)  
@Shikha.

Cp is not required if u are finding percent profit or loss, only relation between Sp and Cp give answer.

For ex:

Like u have Sp=6/5Cp
Then Profit percent is given as =(sp-cp)*100/cp
=((6/5)Cp-Cp)*100/cp
=(1/5)*100
=20%

Note:- Sp and Cp both required if u have to find only Profit or loss not (percent profit or loss percent).

Here in this question only I and III give ans because we are finding percent profit not only profit(where value of bot Sp and Cp must be known Only relation b/w Sp and Cp won't give ans).

Thanks. Have a nice day guys.

Priyak Dey said: (Jun 26, 2013)  
I do believe that we don't require the second option , i.e, the CP because question clearly suggests - PROFIT PERCENTAGE...

MY SOLUTION - SP = 130/100 * 90/100 *CP.

PROFIT % = (SP - CP) / CP *100.

From above eqn its clear that we don't require the value of cp and thus that information is redundant. And the other two are very much necessary !! N.B - correct answer will be statement 2 is redundant.

Venkat said: (Jun 26, 2013)  
In the question it asks for the "redundant statement", but the answer was given for the necessary statement.

Can anyone explain?

Muni said: (Aug 7, 2014)  
I agree with this.

Profit is 17% of it's cost.

Vinay said: (Sep 2, 2014)  
I agree with the Profit is 17% of its CP.

Raghu said: (Sep 26, 2014)  
Statement 2 did not mention no of articles so redundant.

Chinmaya said: (Jun 24, 2015)  
Since it is asked which is redundant answer should be "B:Only II". Since other two are required to answer.

Dinesh Kumar said: (Aug 9, 2015)  
Labelled price = 130/100*cp.

=>LP = 13/10*cp.

Discount = 10/100*lp.

=> 10/100*13/100*cp.

Therefore selling price = Lp-Discount.

130/100*cp-13/100cp.

Profit = (SP-CP)/CP*100.

= 13/10cp-13/100cp-cp/cp*100.

=> 17%.

Madhav said: (Nov 10, 2015)  
Shikha.

You have calculated discount on CP but, it should be on labeled price.

So (1.3)*(.9) = 1.17.

Harsh said: (Jun 24, 2016)  
Since it is asked which is redundant, so the answer should be "B) Only II". Since other two are required to answer.

Susheel Kumar said: (Aug 12, 2017)  
Assume cp is x.
so Mp is 1.3x.
and the discount is 10 of mp.
So sp is 1.17 x.
Make linear equation cp always can side 100%
x=100%.
1.17x=Y%.
by the cross multiplication get Y%.
profit is (Y-100)%.

No need to consider no of articles because they cancel each other.
So the answer is 1 and 3.

Divyanshu said: (Oct 28, 2017)  
But in question what asked is that which option is redundent so option 2 should be correct.

Sunil said: (Mar 6, 2019)  
No, Option 2 is correct because it's been asked redundant one.

Yash said: (Apr 9, 2021)  
No @Showry.

The p% is 107%.
(588.5*100)/550 = 107%.

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