Multiple choice

Given below are 3 statements with each question, you have to decide that which of the following statement/statements are necessary to answer the question. How much the cost price should be increased to make it marked price, if Statement I: A trader wants to gain 25% on Cost Price Statement II: A trader gains 20% on articles Selling Price Statement III: A trader gains 20% on articles Cost Price after giving a discount of 20% on Marked Price

  1. I and II Together

  2. II and III Together

  3. Only III

  4. All I, II and III Together

  5. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let CP = x. From Statement III: SP = CP + 20% of CP = 1.2x. Also SP = MP - 20% of MP = 0.8MP. So 0.8MP = 1.2x, MP = 1.5x. CP to MP increase = (1.5x - x)/x × 100 = 50%. Statement III alone is sufficient. Statements I and II are not needed. Therefore claimed answer C is correct.

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