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Question

The question consists of Four statements numbered “I, II ,III and IV” given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. A. The data in statement-I and statement-II together is necessary to answer the question but the data in statement-III alone is not sufficient to answer the question B. The data in statement-I alone is sufficient to answer the question but the data in statement-II and statement-III alone is not sufficient to answer the question. C. The data in statement-I and statement-III together is sufficient to answer the question but the data in statement-II alone is not sufficient to answer the question. D. The data in all the three statements together is necessary to answer the question. E) The data in all statements I ,II ,III and IV together are necessary to answer the question.

What is the profit earned on a Smartwatch that was sold for Rs. 1200?

Statement I: If the Smartwatch had been sold for Rs. 200 more, the profit would have been twice.

Statement II: The profit percentage concerning the selling price of the Smartwatch is 16.67%.

Statement III: The ratio of the cost price to the selling price of the Smartwatch is 5:6.

Statement IV: The cost price of the Smartwatch is the smallest 4-digit number.

A A Correct Answer Incorrect Answer
B B Correct Answer Incorrect Answer
C C Correct Answer Incorrect Answer
D D Correct Answer Incorrect Answer
E E Correct Answer Incorrect Answer

Solution

ATQ, Let the cost price of the Smartwatch be Rs. 's' Statement I: According to the question, (1400 – s) = 2(1200 – s) Or, 1400 – s = 2400 – 2s Or, s = 1000 Therefore, profit earned = 1200 – 1000 = Rs. 200 So, data in statement I alone is sufficient to answer the question. Statement II: Profit earned on the Smartwatch = (1/6) × 1200 = Rs. 200 So, data in statement II alone is sufficient to answer the question. Statement III: Cost price of the Smartwatch = 1200 × (5/6) = Rs. 1000 Therefore, profit earned = 1200 – 1000 = Rs. 200 So, data in statement III alone is sufficient to answer the question. Statement IV: Cost price of the Smartwatch = Rs. 1000 Profit earned = 1200 – 1000 = Rs. 200 So, data in statement IV alone is sufficient to answer the question Therefore, data in each of the statements alone is sufficient to answer the question.

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