Multiple choice

Direction: The following question has two statements, (1) and (2). Answer the question using the following options: What is the profit/loss percentage in the transaction? (1) Two articles were sold at the same selling price with 20% profit on one and 20% loss on the other. (2) Cost price of one article was \$100/- and the cost price of the other article was \$150/- and they were sold at the same selling price of $120/-.

  1. if statement (1) alone is sufficient but statement (2) alone is not

  2. if statement (2) alone is sufficient but statement (1) alone is not

  3. if both (1) and (2) together are sufficient but none of them alone is sufficient

  4. if both independently are sufficient

  5. if both statements (1) and (2) together are not sufficient
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statement 1: Selling at same price with 20% profit and 20% loss results in a net loss of (20^2)/100 = 4%. This is sufficient. Statement 2: CP1=100, CP2=150, SP1=120, SP2=120. Total CP=250, Total SP=240. Loss = 10, Loss% = 10/250 = 4%. This is also sufficient.

AI explanation

Statement (1) applies the standard equal price profit and loss identity, which yields a net loss of 4%, making it independently sufficient. Statement (2) provides the cost prices of 100 and 150 and the selling price of 120 for both, allowing the calculation of a 4% overall loss, making it independently sufficient. Therefore, both statements independently are sufficient.

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