Aptitude - Profit and Loss - Discussion
Discussion Forum : Profit and Loss - Data Sufficiency 4 (Q.No. 1)
Directions to Solve
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. |
Answer: Option
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.
Discussion:
25 comments Page 1 of 3.
Soumit said:
2 years ago
From the (i) we can make CP = 100 and MP = 130.
From the (iii) we can make SP = 117.
And now we can calculate profit %.
(17/100) * 100 = 17% profit.
From the (iii) we can make SP = 117.
And now we can calculate profit %.
(17/100) * 100 = 17% profit.
(3)
Nitin said:
2 years ago
If s.p = 130% of c.p then s.p = 1.3c.p
(s.p-c.p)/c.p * 100.
(1.3cp - c.p) /c.p *100.
Let cancelled c.p
0.3*100
30% profit gain I thing option I only.
(s.p-c.p)/c.p * 100.
(1.3cp - c.p) /c.p *100.
Let cancelled c.p
0.3*100
30% profit gain I thing option I only.
(2)
Onkar said:
3 years ago
Isn't the answer should be B, because statement 2 is redundant and we have to find redundant statements right?
(2)
Nitin said:
2 years ago
If s.p = 130% of c.p then s.p = 1.3c.p.
(s.p-c.p)/c.p * 100.
(1.3cp - c.p) /c.p *100.
Let's cancel c.p.
0.3 * 100.
30% profit gain. So, I think option I only.
(s.p-c.p)/c.p * 100.
(1.3cp - c.p) /c.p *100.
Let's cancel c.p.
0.3 * 100.
30% profit gain. So, I think option I only.
(1)
Bhuvnesh BHU MCA said:
1 decade ago
@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.
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.
(1)
Chinmaya said:
1 decade ago
Since it is asked which is redundant answer should be "B:Only II". Since other two are required to answer.
Divya said:
1 year ago
Shouldn't it be B? Please explain.
Yash said:
4 years ago
No @Showry.
The p% is 107%.
(588.5*100)/550 = 107%.
The p% is 107%.
(588.5*100)/550 = 107%.
Sunil said:
7 years ago
No, Option 2 is correct because it's been asked redundant one.
Divyanshu said:
8 years ago
But in question what asked is that which option is redundent so option 2 should be correct.
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