Multiple choice

Each of the questions below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and give answer: A shopkeeper sold two items of same marked price of Rs. 1500 at a profit of 20% and 25% respectively. Find the selling price of item B. Statement I : The discount offered by the shopkeeper for item A is 20% and the ratio of the cost price of item A to the cost price of item B is 10: 11 respectively Statement II : The selling price of item A and selling price of item B are in the ratio of 48: 55, respectively

  1. The data in statements I alone is sufficient to answer the question, while the data in statement II alone is not sufficient to answer the question.

  2. The data in statements II alone is sufficient to answer the question, while the data in statement I alone is not sufficient to answer the question.

  3. Either Statement I or Statement II alone is sufficient to answer the question.

  4. The data in both the statements I and II is not sufficient to answer the question.

  5. The data in both the statements I and II together is necessary to answer the question.
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A Correct answer
Explanation

Statement I provides the discount on item A and the ratio of cost prices. Since we know the marked price of A, we can find its cost price and subsequently the cost price of B. With the profit percentage of B given in the prompt, we can calculate the selling price of B. Statement II is not needed.

AI explanation

The selling price of item B can be found using either statement. From Statement I, the marked price is 1500 and the discount on item A is 20%, so the selling price of item A is 1500 * 0.80 = 1200, and since this is a 20% profit, the cost price of item A is 1200 / 1.20 = 1000. The ratio of the cost price of item A to B is 10:11, so the cost price of item B is (11/10) * 1000 = 1100, and the selling price of item B at 25% profit is 1100 * 1.25 = 1375. Statement II only gives the ratio of the selling prices of item A and B, but without knowing the actual value of either, the selling price of item B cannot be determined. Therefore, only the data in Statement I alone is sufficient to answer the question.

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