CAT Practice : Percents, Profits

Discount Percentage

Discount Percentage

    Q.20: Given below is a question followed by three statements. Study the statements and decide which of the statement(s) is/are necessary to answer the question. What was the discount percentage given?
    I) On selling the table, for Rs 12650, 26.5 %, Profit was earned
    II) If there had been no discount, 30% would have been earned as profit.
    III) The Cost price of the table was Rs 10000

    1. Only I and II
    2. Only II and III
    3. Only I and III
    4. Any two of the above
    5. None of these.

 

  • Correct Answer
    Choice A. Only I and II

Detailed Solution

From statement – I

S.P. = Rs 12650, Profit = 26.5%

∴ C.P = x 12650 = 10000

From statement II

Mark Price = 130% of C.P. = Rs 13000

∴ From statement I and II

Discount = Rs (13000 - 12650) = Rs 350

Discount % = x 100 – Therefore, can be calculated

∴ Statement I and II can give the answer. However, statement II and III together cannot.

Answer – a)

Correct Answer: Only I and II



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