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? What was the profit earned on the cost price by Mahesh by selling an article? (A) He got 15% concession on the labelled price in buying that article. (B) He sold it for Rs. 3060 (C) He earned a profit of 2% on the labelled price

We need to find profit on cost price. From (A): Mahesh bought at 15% discount on labelled price, so cost = 0.85 × labelled price. From (B): Selling price = Rs. 3060. From (C): Profit = 2% of labelled price, so SP = 1.02 × labelled price. From (C): labelled price = 3060/1.02 = Rs. 3000. Then cost = 0.85 × 3000 = Rs. 2550. Profit on cost = (3060-2550)/2550 × 100 = 20%. All three statements together are necessary - (C) gives labelled price, (A) relates cost to labelled price, (B) gives selling price.