Subject: General Aptitude · Chapter: Profit and Loss · Exam: · Marks: · Difficulty:
What was the amount of profit earned? I. 10% discount was offered on the labelled price. II. Had there been no discount, profit would have been 30%. III. Selling price was more than the cost price by 20%.
(a)All I, II and III
(b)Any two of the three
(c)III, and either I or II
(d)I, and either II or III
(e)Question cannot be answered even with the information in all the three statements.
Answer
Answer (as printed): E
Explanation
Let the M.P. be ₹$x$. I. S.P. $=90\%$ of ₹$x=₹\left(x\times\frac{90}{100}\right)=₹\frac{9x}{10}$. II. If S.P. $=₹x$, then gain $=30\%$. ∴ C.P. $=₹\left(\frac{100}{130}\times x\right)=₹\frac{10x}{13}$. III. Gain = 20\%. Thus, I, II, III do not give the answer. ∴ Correct answer is (e).
Explanation as extracted from the printed page; notation may be imperfect.