Multiple choice

Each of the following questions below consists of a question and two statements numbered I and II given. You have to decide whether the data provided in the statements is sufficient to answer the questions. What is marked price of a chair? I. A shopkeeper purchases three chairs in total for Rs. 3600 and earns Rs. 240 on selling every two chairs after giving discount of 12% on each chair. II. A shopkeeper gives 20% discount on mark price of a chair and discount on chair is Rs. 700 less than cost price of a chair.

  1. if the data given in Statement I alone is sufficient to answer the question while the data in statement II alone is not sufficient to answer the question.

  2. if the data given in statement II alone is sufficient to answer the question while the data in Statement I alone is not sufficient to answer the question.

  3. if the data either in statement I alone or in statement II alone is sufficient to answer the question.

  4. If the data in neither statement I nor II is sufficient to answer the question.

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

Statement I: 3 chairs cost 3600, so 1 chair = 1200. Selling 2 chairs earns 240 profit. This is not enough to find the marked price without knowing the discount percentage applied to the marked price. Statement II: 20% discount on MP, and discount = CP - 700. This is also not enough without knowing the CP or the SP.

AI explanation

Statement I provides the cost price of one chair as 1200 (since 3600 / 3 = 1200), and states the profit on selling two chairs is 240, meaning the profit per chair is 120. With the selling price calculated as 1320 and a 12% discount applied, the marked price is found by 1320 / 0.88 = 1500, proving Statement I alone is sufficient to answer the question. Statement II states that 0.2 * Marked Price = Cost Price - 700, which is a single equation with two variables and cannot be solved without additional information. Therefore, the data given in Statement I alone is sufficient, while the data in Statement II alone is not.

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