Multiple choice

Passage

Directions: This data sufficiency problem consists of a question and two statements labelled (1) and (2). You have to decide whether the data given in the statements is sufficient for answering the question.

Find the selling price of a MI phone, if the cost price of it is Rs. 9,230. (i) The profit earned by shopkeeper on a MI mobile phone is 20% more than the profit earned by shopkeeper on a Lenovo phone. (ii) The Cost price of the Lenovo phone is Rs. 7,500 and the shopkeeper sold it at 8% profit.

  1. Statement (1) alone is sufficient, but statement (2) alone is not sufficient.

  2. Statement (2) alone is sufficient, but statement (1) alone is not sufficient.

  3. Both statement (1) and (2) together are sufficient, but neither of them alone is sufficient.

  4. Each statement alone is sufficient.

  5. Both statements (1) and (2) together are not sufficient.
Reveal answer Fill a bubble to check yourself
C Correct answer
AI explanation

The base cost price of the MI phone is given as Rs. 9,230, but its selling price cannot be calculated without knowing the profit margin. Statement I only compares the profit margins of the MI phone and a Lenovo phone, providing no absolute values. Statement II provides the cost price and profit percentage of the Lenovo phone, allowing you to calculate the Lenovo phone's profit as 8% of Rs. 7,500, which is Rs. 600. By combining the statements, the profit on the MI phone is 20% more than the Lenovo phone's profit, making it 1.2 multiplied by Rs. 600, which equals Rs. 720. Adding this profit to the cost price gives the selling price of the MI phone, meaning both statement 1 and 2 together are sufficient, but neither of them alone is sufficient.

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