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Question

What is the percentage profit earned by selling a car for Rs. 5,40,000?

I.The amount of profit earned by selling the car is Rs. 2,70,000.

II. The SP of the car is twice the CP.

A If the data in statement I alone are sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question. Correct Answer Incorrect Answer
B If the data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question. Correct Answer Incorrect Answer
C If the data either in statement I alone or in statement II alone is sufficient to answer the question. Correct Answer Incorrect Answer
D If the data even in both the statement I and II together are not sufficient to answer the question Correct Answer Incorrect Answer
E If the data in both statement I and II together are needed to answer the question. Correct Answer Incorrect Answer

Solution

From I, CP = 5,40,000 – 2,70,000 = Rs. 2,70,000 Profit % = 270000/270000 × 100 = 100% Hence from I we can find the percentage profit. From II, SP = 2 × CP If CP be x then SP will be 2x. Profit = 2x – x = x Profit % = x/x × 100 = 100% So 100% profit will be earned. Hence from II we can find the percentage profit.

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