The questions given below contain three statements giving certain data. You have to decide whether the data given in the statements are sufficient for answering the question. A shopkeeper sells a shirt at a profit of Rs. 150. What is his percent profit? I. He allows 20% discount on the marked price which is Rs. 750. II. The cost price is Rs. 450. III. The selling price is Rs. 600.
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Only I and II
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Only I and III
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Only either II or III
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Only I
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Any one
E
Correct answer
Explanation
From statement I: Marked price = Rs. 750, discount = 20%. So selling price = 750 × 0.80 = Rs. 600. Profit = 600 - 450 = Rs. 150 (from problem statement). Percent profit = (150/450) × 100 = 33.33%. Statement I alone is sufficient since it gives both marked price and discount, and the profit amount is given in the question. Statement II (cost price = Rs. 450) alone is insufficient without knowing selling price. Statement III (selling price = Rs. 600) alone is insufficient without knowing cost price. However, any one statement (I alone, or II+III together) can solve the problem - hence 'Any one' is correct.