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Question

In each of the following questions, a question followed by two statements numbered I and II are given. You have to read both the statements and then Give answer

What was the per cent profit/loss made/incurred by selling an article for Rs. 24000?

Statement I. The ratio between the selling price and the cost price of the articles is 5 : 3 respectively.

Statement II. The difference between the cost price and the selling price is Rs. 9600.

A If the data given in statement I alone are sufficient to answer the question, whereas the data given in statement II alone are not sufficient to answer the question. Correct Answer Incorrect Answer
B If the data given in statement II alone are sufficient to answer the question whereas the data given in statement I alone are not sufficient to answer the question. Correct Answer Incorrect Answer
C If the data in either statement I alone or in statement II alone are sufficient to answer the question. Correct Answer Incorrect Answer
D If the data in both the statements I and II are not sufficient to answer the question. Correct Answer Incorrect Answer
E If the data given in both the statements I and II are necessary to answer the question. Correct Answer Incorrect Answer

Solution

Selling Price = 36,000 From statement I Selling Price/Cost Price =5/4 Cost Price = 28,800 ∴ Profit % = (36,000 – 28,800)/28,800 × 100 = 25% From statement II It is not clear that Cost Price is greater than or less than Selling Price. Hence, the data in statement I is sufficient.

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