Multiple choice

Find the profit percent of the shopkeeper? Statement I: Ratio of MP and CP is 5:3 and he offers a discount of 20% on cash payment. Statement II: Shopkeeper purchased some apples at a rate of 45 Rs/dozen and sold all at a rate of 5 Rs/apple.

  1. The data in statement I alone is sufficient to answer the question, while the data in statement II alone is not sufficient to answer the question

  2. The data in statement II alone is sufficient to answer the question, while the data in statement I alone is not sufficient to answer the question

  3. The data either in statement I alone or in statement II alone is sufficient to answer the question

  4. The data given in both statements I and II together are not sufficient to answer the question

  5. The data given in both statements I and II together are necessary to answer the question
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statement I: MP/CP = 5/3, so MP = (5/3)CP. Discount 20% means SP = 0.8 × MP = (4/3)CP, giving 33.33% profit. Statement II: CP = Rs.45/dozen, SP = Rs.5/apple = Rs.60/dozen, also 33.33% profit. Each alone gives the answer.

Keep practicing — related questions