What is the selling price of the Nike shoes if no discount is offered? Statement I : Cost price of the Nike shoes is Rs 8000. Statement II : After giving two successive discounts of 10% and 15% on the marked price, he earned a profit of 20%. Statement III : After giving a single discount of 25% on the marked price, he gets a profit of Rs 700.
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Only III and I
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Only I and II
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I and either II or III
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All of these
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Any two of these
C
Correct answer
Explanation
We need selling price (no discount = marked price). Statement I gives CP = 8000. Statement II: Two successive discounts (10%, 15%) give SP = 0.9 × 0.85 × MP = 0.765 MP. With 20% profit: 0.765 MP = 1.2 × 8000, so MP = 12549. Statement III: Single 25% discount gives SP = 0.75 MP, and profit = 700 means 0.75 MP = 8000 + 700, so MP = 11600. Using I with either II or III gives different MP values from different discount scenarios, but we can calculate SP from each combination.