New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    For each of the following questions statements I and II are given. Use the data of those statements and then determine which of the following statements is necessary to answer the question:

    What is the marked price of the furniture?

    Statement I: A storekeeper marks his furniture 20% above the cost price and he allows 8(1/3)% discount on marked price. Statement II: Storekeeper earns Rs.30 as profit on selling the furniture.
    A Statement I is alone sufficient to answer the question. Correct Answer Incorrect Answer
    B Statement II is alone sufficient to answer the question. Correct Answer Incorrect Answer
    C Either Statement I or statement II is sufficient to answer the question. Correct Answer Incorrect Answer
    D Neither Statement I nor statement II is sufficient to answer the question. Correct Answer Incorrect Answer
    E Both Statements I and II are necessary to answer the question. Correct Answer Incorrect Answer

    Solution

    From I and II, Let the cost price of the furniture be Rs. 100x So, marked price of the furniture = 100x × (120/100) = Rs.120x Now, SP of the furniture = 120x × (275/300) = Rs.110x According to the question, => 110x – 100x = 30 => 10x = 30 => x = 3 Therefore, the marked price of the furniture = Rs.120x = Rs.360 Therefore both the statements are required to answer the question.

    Practice Next

    Relevant for Exams: