Multiple choice

Directions: The given question is followed by statements I and II. You have to identify which of the following statements is/are sufficient to answer the question and mark the appropriate option. What is the selling price of a teddy bear? I. The ratio of cost price to discount on teddy bear is 7 : 1. II. The ratio of discount offered on teddy bear to profit is 5 : 4.

  1. Only statement I alone is sufficient to answer the question.

  2. Only statement II alone is sufficient to answer the question.

  3. Both the statements together are sufficient to answer the question.

  4. Both the statements together are insufficient to answer the question.

  5. Either statement I alone or statement II alone is sufficient to answer the question.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

To find the actual selling price in currency, we need at least one absolute monetary value. Since both statements only provide ratios between the cost price, discount, and profit, we can only determine the relative proportions of these values but not their actual numerical amounts.

AI explanation

Let the cost price be CP, the marked price be MP, the discount be D, and the profit be P. From statement I, the ratio of CP to D is 7:1, meaning CP equals 7D. From statement II, the ratio of D to P is 5:4, meaning D equals 1.25P. The selling price formula is SP equals MP minus D, which can also be expressed as SP equals CP plus P. Substituting the ratios into the second formula gives SP equals 7D plus 0.8D, making SP equal to 7.8D. Without knowing the value of D or the marked price, it is impossible to calculate the actual numerical value of the selling price. Therefore, both statements together are insufficient to answer the question.

Keep practicing — related questions