Multiple choice

A goldsmith made 'n' number of identical ornaments, and the cost price of 'n' ornaments was \$40,000. Calculate the selling price of each ornament. It is given that the cost price of each ornament was same. 1. The selling price was 6% more than the cost price of each ornament. 2. The selling price per ornament was \$300 more than the cost price of each ornament.

  1. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.

  2. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.

  3. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.

  4. EACH statement ALONE is sufficient.

  5. Statements (1) and (2) TOGETHER are NOT sufficient.
Reveal answer Fill a bubble to check yourself
C Correct answer
AI explanation

Statement (1) provides a percentage increase but lacks the value of n or the individual cost price, so it is not sufficient alone. Statement (2) gives the difference between the selling price and cost price, but without the value of n, the base cost cannot be determined, making it insufficient alone. By combining both statements, you can form an equation where 6% of the individual cost equals $300, allowing you to find the individual cost and verify the selling price. Therefore, both statements together are sufficient to find the selling price of each ornament, but neither statement alone is sufficient.

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