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- What is the profit percentage on the sale of a toy? I. The marked price is 20% higher than the cost price and a discount of 10% is offered thereon. II. Marked price and cost price are Rs. 2880 and Rs. 2400 respectively.

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

Statement I: Marked price is 20% above cost, so MP = 1.2 × CP. Discount of 10% on MP gives SP = 0.9 × MP = 0.9 × 1.2 × CP = 1.08 × CP. Profit = 8% of CP. Statement I alone is sufficient. Statement II gives actual values: MP = 2880, CP = 2400, so discount amount = 288, SP = 2592, profit = 192, profit% = 192/2400 = 8%. Statement II is also sufficient alone.

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