Question
The cost price of an article is Rs. 600. How much profit
did a trader get by selling the article, if it was sold at 15% discount? I. The trader marked the article at Rs. 750. II. The trader sold the article to X and X sold the article to Y at Rs. 650 earning a profit of 25%. Each of the questions below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and give answer –Solution
The data given in the question are C.P. and discount%. Using statement I alone, as the marked price of the article is given and discount% is known, we can find the selling price of the article. We can find the profit using cost price and the selling price of the article. Statement II, as X’s SP and his profit% are known, we can find X’s CP. Which is trader’s SP also. Now, since, we have both trader’s CP and SP, we can get the Profit.. Hence, statement II alone is also sufficient.
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