NIMCET 2018 LOGICAL REASONING PYQ — By selling an article, what is the profit percent gained? I) 5% d… | Mathem Solvex | Mathem Solvex
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NIMCET 2018 — LOGICAL REASONING PYQ
NIMCET | LOGICAL REASONING | 2018
By selling an article, what is the profit percent gained? I) 5% discount is given on the list price. II) If the discount is not given, 20% profit is gained. III) The cost price of the articles is Rs. 5,000.
Choose the correct answer:
A.
Only I and II
(Correct Answer)
B.
Only II and III
C.
Only I and III
D.
All of I, II and III
Correct Answer:
Only I and II
Explanation
Correct Option - 1 I) 5% discount is given on the list price. II) If the discount is not given, 20% profit is gained. III) The cost price of the articles is Rs. 5,000. Calculation: Let the list price of a product be Rs.100 By the 1st statement, 5% discount on the list price. ⇒ Selling price = 95% × list price ⇒ Selling price = 95/100 × 100 ⇒ Selling price = 95 By the second statement, If the discount is not given, 20% profit is gained. ⇒ 100 = 120 ⇒ 1 = 120/100 ⇒ Selling price is 95 ⇒ Selling price = 95 × 120/100 ⇒ Selling price = 114 ∴ 14% profit ∴ Statement I and II are enough to find profit percent.
Explanation
Correct Option - 1 I) 5% discount is given on the list price. II) If the discount is not given, 20% profit is gained. III) The cost price of the articles is Rs. 5,000. Calculation: Let the list price of a product be Rs.100 By the 1st statement, 5% discount on the list price. ⇒ Selling price = 95% × list price ⇒ Selling price = 95/100 × 100 ⇒ Selling price = 95 By the second statement, If the discount is not given, 20% profit is gained. ⇒ 100 = 120 ⇒ 1 = 120/100 ⇒ Selling price is 95 ⇒ Selling price = 95 × 120/100 ⇒ Selling price = 114 ∴ 14% profit ∴ Statement I and II are enough to find profit percent.
