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    Question

    In each of the following questions, a question is followed by two statement. Read all the statements and find that which statements are required to answer the question and answer accordingly.

    What was the profit earned by selling an article?

    Statement I : The article was sold for Rs 850 after getting a discount of 15% on the labelled price. Statement II : A profit of 4% is made on the labelled price in selling that article.
    A If the data in statement I alone is sufficient to answer the question. Correct Answer Incorrect Answer
    B If the data in statement II alone is sufficient to answer the question. Correct Answer Incorrect Answer
    C If the data either in statement I alone or statement II alone are sufficient to answer the question. Correct Answer Incorrect Answer
    D If the data in both the statements I and II together are necessary to answer the question. Correct Answer Incorrect Answer

    Solution

    From statement I, S.P = Rs 850 We can find the MP of article as 100/85 × 850 = Rs 1,000 from statement II, We can find the CP of article by using the MP from statement I as 1000 × 96/100 = Rs 960 Now we have both SP and CP from both statements to find the profit%.

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