Multiple choice

Determine the cost price of the mobile phone. Statement I: The mobile phone is marked up by M% above its cost price and sold at a 20% discount. The shopkeeper manages to earn a 32% profit. Statement II: If the shopkeeper offers a 40% discount on the marked price, then shopkeeper still earns a loss of Rs. 48. Statement III: If no discount is offered on the marked price, the selling price is Rs. 3,120 more than the cost price.

  1. Either statement (I) alone or statement (II) alone is sufficient to answer the question

  2. Statements I and either statement II or statement III together sufficient to answer the question

  3. All the three statements taken together are necessary to answer the question

  4. Statements II and III taken together are necessary to answer the question

  5. Statements I and II taken together or statements II and III taken together are necessary to answer the question
Reveal answer Fill a bubble to check yourself
B Correct answer
AI explanation

Statement I gives the relationship between markup and discount (1 - 0.20)(1 + M/100) = 1.32, which yields a markup percentage of 65% but provides no actual rupee value to find the base cost price. Statement II provides the loss value at a 40% discount, meaning the selling price is 60% of the marked price, but lacks the marked price percentage. Statement III confirms the marked price is Rs. 3120 above the cost price. Therefore, combining Statement I with either Statement II or III provides the necessary monetary value to find the exact cost price.

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