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 2 of 3.
Madhav said:
10 years ago
Shikha.
You have calculated discount on CP but, it should be on labeled price.
So (1.3)*(.9) = 1.17.
You have calculated discount on CP but, it should be on labeled price.
So (1.3)*(.9) = 1.17.
Dinesh kumar said:
1 decade ago
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%.
=>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%.
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.
Raghu said:
1 decade ago
Statement 2 did not mention no of articles so redundant.
Vinay said:
1 decade ago
I agree with the Profit is 17% of its CP.
Muni said:
1 decade ago
I agree with this.
Profit is 17% of it's cost.
Profit is 17% of it's cost.
Venkat said:
1 decade ago
In the question it asks for the "redundant statement", but the answer was given for the necessary statement.
Can anyone explain?
Can anyone explain?
Priyak Dey said:
1 decade ago
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.
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.
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)
Suprith said:
1 decade ago
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.
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