Profit, Loss and Discount Questions

Multiple choice
  1. I alone sufficient while II alone not sufficient to answer

  2. II alone sufficient while I alone not sufficient to answer

  3. Either I or II alone sufficient to answer

  4. Both I and II are not sufficient to answer

  5. Both I and II are necessary to answer

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I: SP-CP = 40. Since profit is 20%, 0.2*CP = 40, so CP=200, Profit=40. Sufficient. Statement II: SP = 1.2*CP, which is just the definition of 20% profit and does not provide a specific value for the profit earned. Only I is sufficient.

Multiple choice
  1. Both Assertion and Reason are correct and Reason is the correct explanation for Assertion

  2. Both Assertion and Reason are correct but Reason is not the correct explanation for Assertion

  3. Assertion is correct but Reason is incorrect

  4. Both Assertion and Reason are incorrect

Reveal answer Fill a bubble to check yourself
A Correct answer
Multiple choice
  1. $13$
  2. $11$
  3. $15$
  4. $25$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let n be the number of books. Total CP = 450. Selling Price = 50n. Profit = 50n - 450. Profit = 2 * (CP per book) = 2 * (450/n). So 50n - 450 = 900/n. 50n^2 - 450n - 900 = 0. n^2 - 9n - 18 = 0. Solving for n gives approximately 10.5, so 11 is the nearest integer.