Multiple choice

Passage

Each of the following questions below consists of a question and two statements numbered I and II given. You have to decide whether the data provided in the statements is sufficient to answer the question.

Find the cost price of article by shopkeeper on selling the article at Rs 240 ? Statement I: If the article sold at 25% more than profit earned will be Rs. 40 Statement II: Marked price of article is Rs 400 and profit% is equal to discount% and profit % is 40%.

  1. statement, I alone is sufficient to Answer

  2. statement II alone is sufficient to Answer

  3. Either Statement I or Statement II is sufficient to answer the question

  4. neither statement I nor II is sufficient to answer the question.

  5. Both statements I and II together is necessary to answer the question. Find the cost price of article by shopkeeper on selling the article at Rs 240 ?
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statement I: SP = Rs 240. If sold at 25% more, SP' = 1.25 × 240 = 300. Profit = Rs 40, so CP = SP' - 40 = 260. Sufficient alone. Statement II: MP = Rs 400, profit% = discount% = 40%. SP = 400 × 0.6 = 240 (which matches given SP). Profit = 40% of CP, so 1.4 × CP = 240, giving CP = 240/1.4 = 171.43. Sufficient alone. Since either statement alone is sufficient, option C is correct.

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