Multiple choice

Passage

Each of the questions below consists of a question and three statements given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read all the three statements and give answer.

What is the amount of profit earned? I. 10% discount was offered on the labelled price? II. Had there been no discount, profit would have been 30% III. Selling price was more than the cost price by 20%

  1. I and II

  2. II and III

  3. I and III

  4. Any two of the three

  5. All three together is not sufficient.
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

All three statements give only percentage or ratio relationships without any absolute values. Statement I mentions a 10% discount but no profit information. Statement II gives 30% profit without discount but no actual amounts. Statement III confirms 20% profit but again, no absolute values. Without the cost price, labelled price, or selling price in monetary terms, we cannot calculate the actual amount of profit earned.

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