Multiple choice

The following question has three statements. Study the question and the statements and decide which of the statement(s) is/are necessary to answer the question. What is the selling price of table fan if Dealer sells at a profit of 15%? Statement I: Dealer marks fan 60% above cost price and allow a discount of 25%. If no discount is offered then he would get Rs. 1920 more profit. Statement II: Dealer marks fan 75% above cost price and after allowing two successive discounts of 20% sold to Rahul, Rahul sold it to Jay for Rs. 6720 and claims a profit of 25%. Statement III: Dealer marks fan 75% above cost price and after allowing discount of 25% sells to customer. If he allows an additional discount of 20% he would get Rs. 1260 less.

  1. If the data in statement I, II and III are necessary to answer the question

  2. If the data either in statement I or II or III alone is sufficient to answer the question

  3. If the data in both statements I and II together is sufficient to answer the question

  4. If the data in both statements II and III together is sufficient to answer the question

  5. None are sufficient
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Statement I: Marked 60% above CP, discount 25%. If no discount, extra profit = Rs. 1920. This relates markup, discount and profit. SP = CP × 1.15. Let CP = x. MP = 1.6x, SP = 1.6x × 0.75 = 1.2x. Without discount, SP = 1.6x, profit = 0.6x. Extra = 0.6x - 0.15x = 0.45x = 1920. x = 4266.67, SP = 4906.67. Statement II: Different markup and selling chain gives SP = 6720/1.25 = 5376. Statement III: 75% markup with 25% + 20% discounts. Any single statement gives a different SP value, so each alone is sufficient (even if values differ). Option B is correct.

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