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.
Vinay said:
1 decade ago
I agree with the Profit is 17% of its CP.
Raghu said:
1 decade ago
Statement 2 did not mention no of articles so redundant.
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.
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%.
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.
Harsh said:
9 years ago
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:
8 years ago
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.
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:
8 years ago
But in question what asked is that which option is redundent so option 2 should be correct.
Sunil said:
7 years ago
No, Option 2 is correct because it's been asked redundant one.
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%.
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers