Multiple choice

Directions: The question below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements is sufficient to answer the question. Read both the statements and mark the correct option. An article was sold after giving discount on the marked price. What was the discount percentage given? I. The profit earned after giving the discount is 20%. Had the percentage of discount been doubled, the seller would have incurred a loss of 4%. II. Marked price of the article is 60% above the cost price of the article.

  1. The data in statement (I) alone is sufficient to answer the question.

  2. The data in statement (II) alone is sufficient to answer the question.

  3. The data in both the statements together is needed.

  4. Either statement (I) alone or statement (II) alone suffices to answer the question.

  5. Even by combining both the statements the answer can not be found.
Reveal answer Fill a bubble to check yourself
C Correct answer
AI explanation

Let the marked price be MP, cost price be CP, and the unknown discount percentage be d, so the selling price is MP times (1 minus d divided by 100). Statement II provides the relationship MP equals 1.6 times CP, but without knowing the discount or selling price, the discount percentage cannot be determined. Statement I gives the profit relationship as 1.2 times CP equals MP times (1 minus d divided by 100), and the loss relationship as 0.96 times CP equals MP times (1 minus 2d divided by 100). By substituting the value of MP from statement II into the equations from statement I, we can solve for the discount percentage, meaning both statements together are needed to answer the question.

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