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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 statementsI and II is/are necessary?
I. Sale price of the article
II. Number of articles sold
I. Sale price of the article
II. Number of articles sold
- a)Only I is necessary
- b)Only II is necessary
- c)Either I or II is necessary
- d)Both I and II are necessary
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
A shopkeeper sells some articles at the profit of 25% on the original ...
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).
In order to find gain, we must know the sale price of each article and the number of articles sold.
∴ Correct answer is (d).
Most Upvoted Answer
A shopkeeper sells some articles at the profit of 25% on the original ...
To determine the exact amount of profit, we need both the sale price of the article (I) and the number of articles sold (II). Let's analyze each statement separately to understand why both are necessary.
Statement I: Sale price of the article
Knowing the sale price of the article alone is not sufficient to determine the exact amount of profit. The sale price represents the final amount at which the article is sold, but it does not provide any information about the original price or the profit percentage. Let's consider an example to illustrate this point:
Suppose the sale price of an article is $100. Without knowing the original price or the profit percentage, we cannot calculate the exact amount of profit. If the original price was $80, the profit would be $20. However, if the original price was $120, the profit would be -$20 (a loss). Therefore, without information about the original price, we cannot determine the exact amount of profit.
Statement II: Number of articles sold
Similarly, knowing the number of articles sold alone is not sufficient to determine the exact amount of profit. The number of articles sold only provides information about the quantity, but it does not give any insight into the pricing or profit percentage. Let's consider an example:
Suppose a shopkeeper sells 10 articles. Without knowing the original price or the profit percentage, we cannot calculate the exact amount of profit. If each article had a profit of $5, the total profit would be $50. However, if each article had a profit of $10, the total profit would be $100. Therefore, without information about the pricing or profit percentage, we cannot determine the exact amount of profit.
Combining both statements:
By combining both statements, we have the necessary information to calculate the exact amount of profit. The sale price of the article (Statement I) gives us the final selling price, and the number of articles sold (Statement II) gives us the quantity. With both pieces of information, we can calculate the original price (original price = sale price / 1.25) and then determine the profit amount (profit = sale price - original price).
Hence, both Statement I and Statement II are necessary to find the exact amount of profit.
Statement I: Sale price of the article
Knowing the sale price of the article alone is not sufficient to determine the exact amount of profit. The sale price represents the final amount at which the article is sold, but it does not provide any information about the original price or the profit percentage. Let's consider an example to illustrate this point:
Suppose the sale price of an article is $100. Without knowing the original price or the profit percentage, we cannot calculate the exact amount of profit. If the original price was $80, the profit would be $20. However, if the original price was $120, the profit would be -$20 (a loss). Therefore, without information about the original price, we cannot determine the exact amount of profit.
Statement II: Number of articles sold
Similarly, knowing the number of articles sold alone is not sufficient to determine the exact amount of profit. The number of articles sold only provides information about the quantity, but it does not give any insight into the pricing or profit percentage. Let's consider an example:
Suppose a shopkeeper sells 10 articles. Without knowing the original price or the profit percentage, we cannot calculate the exact amount of profit. If each article had a profit of $5, the total profit would be $50. However, if each article had a profit of $10, the total profit would be $100. Therefore, without information about the pricing or profit percentage, we cannot determine the exact amount of profit.
Combining both statements:
By combining both statements, we have the necessary information to calculate the exact amount of profit. The sale price of the article (Statement I) gives us the final selling price, and the number of articles sold (Statement II) gives us the quantity. With both pieces of information, we can calculate the original price (original price = sale price / 1.25) and then determine the profit amount (profit = sale price - original price).
Hence, both Statement I and Statement II are necessary to find the exact amount of profit.
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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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer?
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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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about 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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer?.
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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about 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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer?.
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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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for 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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of 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 statementsI and II is/are necessary?I. Sale price of the articleII. Number of articles solda)Only I is necessaryb)Only II is necessaryc)Either I or II is necessaryd)Both I and II are necessaryCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
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