Directions: In this problem, a question is given followed by three statements numbered I, II and III. Read the statements carefully and decide which of them is/are sufficient/required to answer the question. What was the percentage profit earned by selling an iron box? I. The cost price of the iron box was Rs. 340. II. Had it been sold for Rs. 550, the profit would have been Rs. 210. III. The profit was more than the 50% of the cost price.

Analyze the data sufficiency by testing statement II alone: if the hypothetical selling price is Rs. 550 and the resulting profit is Rs. 210, the cost price is found by subtracting the profit from the selling price, giving Rs. 340. The hypothetical profit percentage is therefore (210 divided by 340) multiplied by 100, which is about 61.76%. Statement II provides both the cost price and the profit amount directly, making it entirely sufficient to answer the hypothetical question on its own, so the result is Only II.

• Thanks
• Wrong explanation