Multiple choice

[CAT 2002] The questions is followed by two statements, I and II. Answer the question as per the instructions. A dress was initially listed at a price that would have given the store a profit of 20% of the wholesale cost. What was the wholesale cost of the dress? A. After reducing the listed price by 10%, the dress sold for a net profit of \$10. B. The dress is sold for \$50.

  1. if the question can be answered by one of the statements alone, but cannot be answered by using the other statement alone.

  2. if the question can be answered by using either statement alone.

  3. if the question can be answered by using both the statements together, but cannot be answered by using either statement alone.

  4. If the question cannot be answered even by using both statements together.
Reveal answer Fill a bubble to check yourself
A Correct answer
AI explanation

Let the wholesale cost be C, making the initial listed price 1.2C. Statement A gives a reduced price of 0.90 times 1.2C, which is 1.08C, and equating this to C plus 10 allows you to solve for C. Statement B only provides the final selling price of 50, which does not indicate whether a discount was applied or what the profit was, making it insufficient. Therefore, the question can be answered by using statement A alone, but it cannot be answered by using statement B alone.

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