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.

What was profit made by shopkeeper on article? I. Shopkeeper sold article for Rs. of 7600 at 5% discount. II. If shopkeeper sold article on marked price, he would make a profit of 45%.

  1. Only statement I is sufficient

  2. Only statement II is sufficient

  3. Statement I and II both together sufficient

  4. Either statement I or Statement II alone sufficient

  5. neither statement I nor statement II sufficient
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

From statement I: Selling price = Rs. 7600 at 5% discount. So 95% of MP = 7600, MP = 7600/0.95 = Rs. 8000. This gives MP but we need cost price and profit. From statement II: If sold at MP, profit = 45%. So 8000 = 1.45 × CP, CP = 8000/1.45 = Rs. 5517.24. Profit = 7600 - 5517.24 = Rs. 2082.76. Both statements together are necessary and sufficient. Statement I alone gives MP but not CP. Statement II alone gives the relationship but not MP values. Option C is correct.

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