Question

Each question contains two statements, I and
II. Determine whether the information given in the statements is sufficient to answer the question. A shopkeeper sells an article at a certain profit. Find the cost price of the article. Statement I: The selling price of the article is ₹1,800, and the profit earned is 20%. Statement II: The profit earned on the article is ₹300, which is 20% of its cost price.

From Statement I CP 1800 100120 1,500 Statement I alone is sufficient. From Statement II CP 300 10020 1,500 Statement II alone is also sufficient.

A Statement I alone is sufficient, but Statement II alone is not sufficient.

B Statement II alone is sufficient, but Statement I alone is not sufficient.

C Either Statement I or Statement II alone is sufficient.

D Both statements together are required to answer the question.

E Even both statements together are not sufficient.

Detailed Solution