Multiple choice

At what price does Alice sell her refrigerator so as to gain a profit? (1) The profit earned is 5% of the selling price. (2) The difference between cost price and selling price is $200.

  1. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.

  2. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.

  3. Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.

  4. EACH statement ALONE is sufficient.

  5. Statements (1) and (2) TOGETHER are NOT sufficient.
Reveal answer Fill a bubble to check yourself
C Correct answer
AI explanation

Statement (1) establishes the ratio of profit to selling price but provides no actual monetary value to find the exact price. Statement (2) provides the monetary difference between cost price and selling price, but without knowing the relationship between them, the price cannot be found. Using both together, profit equals 0.05 * Selling Price and Selling Price - Cost Price = 200, allowing you to solve for the selling price. Both statements together are sufficient, but neither statement alone is sufficient.

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