Multiple choice

Directions: The following problem contains a question and three statements giving certain data. You have to decide whether the data given in the statements is sufficient for answering the question and then mark the correct option accordingly. A shopkeeper sells an item at 5% discount. Find his percentage profit on this item. I. If the item had been sold for Rs. 50 less, there would have been no profit no loss. II. Had the item been sold for Rs. 50 more, the profit would have been 10%. III. He had purchased this item at Rs. 500.

  1. Only I or III

  2. Any one of them

  3. Either I or II

  4. Any two of them

  5. None
Reveal answer Fill a bubble to check yourself
A Correct answer
AI explanation

Statement I reveals that the 5 percent discount equals Rs. 50, making the marked price Rs. 1000. Statement III provides the cost price of Rs. 500 directly. Combining these facts gives a selling price of Rs. 950 and a profit of Rs. 450, allowing you to find the profit percentage. Either statement I alone or statement III alone is sufficient to establish the ratio between the cost price and the marked price needed to find the profit percentage.

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