Multiple choice

Find the cost price of a laptop. I. A seller marks up the laptop at \$450 above the cost price and allows a discount of 12% on the marked price, thereby making a profit of 10%. II. If the laptop is sold at a profit of 15%, then the difference between the selling price and the cost price of the laptop is \$270.

  1. Neither statement (I) nor statement (II) by itself is sufficient to answer the question.

  2. Statement (II) alone is sufficient to answer the question, but statement (I) alone is not sufficient.

  3. Either statement (I) or statement (II) by itself is sufficient to answer the question.

  4. Both the statements taken together are necessary to answer the question, but neither of the statements alone is sufficient.

  5. Statement (I) alone is sufficient to answer the question, but statement (II) alone is not sufficient.

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statement I: Let CP = x. MP = x + 450. SP = 0.88(x + 450). Profit = SP - CP = 0.1x. This allows solving for x. Statement II: Profit = 0.15x = 270. This also allows solving for x. Both are sufficient independently.