Profit and Loss

Q1:

A shopkeeper sells some articles at the profit of 25% on the original price. What is the exact amount of profit? To find the answer, which of the following information given in Statements I and II is/are necessary?

I. Sale price of the article

II. Number of articles sold

A Only I is necessary

B Only II is necessary

C Both I and II are necessary

D Either I or II is necessary

E None of these

ANS:D - Both I and II are necessary

Gain = 25% of C.P. In order to find gain, we must know the sale price of each article and the number of articles sold. Correct answer is (D).

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