Question
By selling a product for Rs.520 how much profit was
earned? I. 12% discount on the market price. II. The profit was one- third of the cost price. 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
From statement (i), we have only SP and MP but since, we have neither the CP nor the profit/loss, we cannot get the answer. From (ii), Let the CP be x and profit be x/3 . SP = CP + Profit 520 = x + x/3 520 = 4x/3 ∴x = Rs. 390 ∴ Profit = 390/3 = 130
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