Multiple choice

In each of the following questions, a question is followed by two or three statement. Read all the statements and find that which statements are required to answer the question and answer accordingly. What is the selling price of the camera if no discount is offered? Statement I: Cost price of the camera is Rs.10,000. Statement II: Profit earned was 20%. Statement III: Had 20% discount been offered on selling price the profit would have been Rs. 700.

  1. Only III

  2. Only II and III

  3. Only I and II

  4. All of these

  5. Any two of these

Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Question: Find selling price with no discount. I: CP = 10000. II: Profit = 20%, so SP = 12000. I+II sufficient. III: With 20% discount on SP, profit = 700. Let SP = x. With discount: selling price = 0.8x, profit = 700, so CP = 0.8x - 700. From II: profit = 20% means CP × 1.2 = x. Combining II+III: CP × 1.2 = x and CP = 0.8x - 700, solving gives CP and x. I+III: CP = 10000, so 10000 = 0.8x - 700, x = 10750/0.8 = 13437.50. All pairs (I+II, I+III, II+III) are sufficient. Option E (Any two of these) is correct. Each pair uniquely determines the selling price.