Profit And Loss

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

Answer: C

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.

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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.

A:

Only I and II

B:

Only II and III

C:

Only I and III

D:

Any two of the three

Answer: E

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).

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By selling an article what is the profit percent gained?
I.	5% discount is given on list price.
II.	If discount is not given, 20% profit is gained.
III.	The cost price of the articles is Rs. 5000.

A:

Only I and II

B:

Only II and III

C:

Only I and III

D:

All I, II and III

Answer: A

I. Let the list price be Rs. x.

Then, S.P. = 95% of Rs. x = Rs.		x x	95		= Rs.	19x
			100			20

II. When S.P. = Rs. x and gain = 20%.

Then, C.P. = Rs.		100	x x		= Rs.	5x
		120				6

Gain =		19x	-	5x		=		57x - 50x		=	7x
		20		6				60			60

Gain % =		7x	x	6	x 100	% = 14%.
		60		5x

Thus, I and II only give the answer.

Correct answer is (A).

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By selling a product with 20% profit, how much profit was earned?
I.	The difference between cost and selling price is Rs. 40.
II.	The selling price is 120 percent of the cost price.

A:

I alone sufficient while II alone not sufficient to answer

B:

II alone sufficient while I alone not sufficient to answer

C:

Either I or II alone sufficient to answer

D:

Both I and II are not sufficient to answer

Answer: A

Gain = 20%

I. Profit = (S.P.) - (C.P.) = Rs. 40.

Thus, I give the answer. But, II does not give the answer.

Correct answer is (A).

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A man mixes two types of rice (X and Y) and sells the mixture at the rate of Rs. 17 per kg. Find his profit percentage.
I.	The rate of X is Rs. 20 per kg.
II.	The rate of Y is Rs. 13 per kg.

A:

I alone sufficient while II alone not sufficient to answer

B:

II alone sufficient while I alone not sufficient to answer

C:

Either I or II alone sufficient to answer

D:

Both I and II are not sufficient to answer

Answer: D

The ratio, in which X and Y are mixed, is not given.

So, both I and II together cannot give the answer.

Correct answer is (D).

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