EgmatQuantExpert wrote:
3 Must Learn Applications of Percentages - Exercise Question #11- Alex bought a smartwatch at $200 from his friend and sold it to another friend at a certain price. What is his actual profit percentage?
1. Alex gave a discount of 25% while selling the watch.
2. Alex made a profit of 33.3%, when calculated on the selling price.
OptionsA) Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.
B) Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.
C) BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.
D) EACH statement ALONE is sufficient.
E) Statements (1) and (2) TOGETHER are NOT sufficient.
Read More about Percentages and its application Article-1: 3 Major Concerns Students Face in Solving Percentage Problems So CP for Alex = 200, SP not given.
(1) Gave a discount of 1/4 on Marked Price to sell, but since we dont know the Marked price, we cannot calculate SP. Not sufficient.
(2) Suppose SP=x. Profit is = x/3. This means CP + x/3 = x
or 200 + x/3 = x. Or x=300. So profit = 100 on CP of 200, and thus actual profit percentage = 50%. Sufficient.
Hence
B answer