Multiple choice

The question given below contains two statements giving certain data. You have to decide whether the data given in the statements are sufficient for answering the question? Mark answer- A person sells an item with 20% profit. What is the cost price of the item? I. The difference between the selling price and the cost price is Rs 16. II. The selling price is 120% of the cost price.

  1. If statement I alone is sufficient but statement II alone is not sufficient.

  2. If statement II alone is sufficient but statement I alone is not sufficient.

  3. If each statement alone (either I or II) is sufficient.

  4. If statement I and II together are not sufficient.

  5. If both statements together are sufficient, but neither statement alone is sufficient.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I: Selling price - Cost price = 16, and profit = 20%. This means 0.2 × CP = 16, so CP = 80. This alone is sufficient. Statement II: SP = 120% of CP, which just restates the 20% profit definition given in the question. It doesn't give any numerical value to find CP. Therefore, only statement I is sufficient.

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