New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    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 –

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

    Practice Next

    Relevant for Exams: