Multiple choice

By selling a product with $20$% profit, how much profit was earned? I. The difference between cost and selling price is $Rs. 40$. II. The selling price is $120$ percent of the cost price.

  1. I alone sufficient while II alone not sufficient to answer

  2. II alone sufficient while I alone not sufficient to answer

  3. Either I or II alone sufficient to answer

  4. Both I and II are not sufficient to answer

  5. Both I and II are necessary to answer
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I: SP-CP = 40. Since profit is 20%, 0.2*CP = 40, so CP=200, Profit=40. Sufficient. Statement II: SP = 1.2*CP, which is just the definition of 20% profit and does not provide a specific value for the profit earned. Only I is sufficient.

AI explanation

Statement I provides the exact difference between the cost and selling price, which equals the profit, so the profit is Rs. 40. Statement II only gives the ratio of selling price to cost price (120%), confirming the profit margin is 20% but providing no actual numerical value to calculate the profit. Therefore, Statement I alone is sufficient to find the profit earned, while Statement II alone is not. The result is that I alone is sufficient while II alone is not sufficient.

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