Multiple choice

Directions: Given below are two quantities named I and II. Based on the given information, you have to determine the relation between the two quantities. You are to use the given data and your knowledge of Mathematics to choose among the given options. Quantity I: Loss of 30% is incurred if a product is sold at half its list price. Profit percentage if the product is sold at the list price Quantity II: A shopkeeper sells his products at cost price and uses a false weight of 700 gm for 1 kg. Profit percentage of the shopkeeper

  1. Quantity I > Quantity II

  2. Quantity I < Quantity II

  3. Quantity I ≥ Quantity II

  4. Quantity I ≤ Quantity II

  5. Quantity I = Quantity II, or No relation
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Quantity I: Let list price be 100. Half price is 50. Loss of 30% means cost price is 50/0.7 = 71.42. Profit at list price (100) = (100-71.42)/71.42 = 40%. Quantity II: Profit = (Error / (True - Error)) * 100 = (300/700) * 100 = 42.85%. Thus, I < II.

AI explanation

For Quantity I, let the cost price be CP and the list price be LP. We are given 0.5 * LP = 0.7 * CP, which means LP = 1.4 * CP, yielding a profit of 40% if sold at the list price. For Quantity II, using the formula for false weight, Profit% = ((True Weight - False Weight) / False Weight) * 100, the profit is ((1000 - 700) / 700) * 100 = 42.85%. Since 40% is less than 42.85%, Quantity I is less than Quantity II.

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