Subject: General Aptitude · Chapter: Profit and Loss · Exam: 2010 · Marks: · Difficulty:
What was the percent profit/loss made/incurred by selling an article for ` 24000? I. The ratio of the selling price to the cost price of the article is 5 : 3. II. The difference between the cost price and the selling price is ` 9600.
Answer
SELF-PRACTICE — the source book printed no answer.
Nothing is invented here, so this question has no answer on record.
Explanation
I. Let C.P. be ₹$3x$ and S.P. be ₹$5x$. Profit $=₹(5x-3x)=₹2x$. $$\therefore \text{Profit \%}=\left(\frac{2x}{3x}\times 100\right)\%=66\frac{2}{3}\%.$$ Thus, I alone gives the answer. II. From the given information, it cannot be deduced whether it is a profit or a loss. Thus, II alone is insufficient. ∴ Correct answer is (a).
Explanation as extracted from the printed page; notation may be imperfect.