Subject: General Aptitude · Chapter: Profit and Loss · Exam: · Marks: · Difficulty:
What is the marked price of the suitcase? I. When a discount of 15% is offered, the profit earned is 10.5%. II. The cost price of the suitcase is ` 1500. III. The marked price is 30% above the cost price.
(a)I only
(b)Either I or III
(c)Any one of the three
(d)All I, II and III are required
(e)None of these
Answer
Answer (as printed):
Explanation
II. C.P. $=₹1500$. I. Gain = 10.5\%. ∴ From I and II, we get: S.P. $=110.5\%$ of C.P. $$=₹\left(\frac{110.5}{100}\times 1500\right)=₹1657.50.$$ Discount $=15\%$. $$\therefore \text{M.P.}=₹\left(\frac{100}{85}\times 1657.50\right)=₹1950.$$ Thus, I and II give the answer and so III is redundant. III. M.P. $=130\%$ of C.P. From II and III, we get: M.P. $=₹\left(\frac{130}{100}\times 1500\right)=₹1950$. ∴ II and III give the answer and so I is redundant. So, either I or III is redundant. ∴ Correct answer is (b).
Explanation as extracted from the printed page; notation may be imperfect.