Subject: General Aptitude · Chapter: Profit and Loss · Exam: · Marks: · Difficulty:
What is the cost price of the article? I. The profit earned on the article is one-third of the cost price. II. The article is sold for ` 400.
Answer
SELF-PRACTICE — the source book printed no answer.
Nothing is invented here, so this question has no answer on record.
Explanation
I. Gain $=\frac{1}{3}$ (C.P.). II. S.P. $=₹400$. Gain = (S.P.) − (C.P.) $$\Rightarrow \frac{1}{3}\text{(C.P.)}=(₹400)-\text{(C.P.)} \Rightarrow \left(1+\frac{1}{3}\right)\text{(C.P.)}=₹400 \Rightarrow \text{C.P.}=₹\left(400\times\frac{3}{4}\right)=₹300.$$ Thus, I and II both are needed to get the answer. ∴ Correct answer is (e).
Explanation as extracted from the printed page; notation may be imperfect.