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    Question

    The cost price (CP) of an article

    is Rs. 700, and it is marked at a price that is 'p%' above the CP. The article is sold after offering a discount of Rs. 245, so that the difference between the cost price (CP) and selling price (SP) is Rs. 35. Quantity I: Determine the value of 'p'. Quantity II: Suppose the article is sold for an additional Rs. 'q', find the profit percentage earned on selling the article. Assume that the article was initially sold at a loss and that q≥210. In the question, two quantities I and II are given. You have to solve both the quantities to establish the correct relation between Quantity-I and Quantity-II and choose the correct option.
    A Quantity I > Quantity II Correct Answer Incorrect Answer
    B Quantity I < Quantity II Correct Answer Incorrect Answer
    C Quantity I ≥ Quantity II Correct Answer Incorrect Answer
    D Quantity I ≤ Quantity II Correct Answer Incorrect Answer
    E Quantity I = Quantity II or relation can't be established Correct Answer Incorrect Answer

    Solution

    ATQ, CP of the article = Rs.700 MRP of the article  = (100 + p) % of 700 = (700 + 7p) SP of the article = (700 + 7p) – 245 = (455 + 7p) Quantity I: Case 1: When there is profit on the article(CP < SP). (455 + 7p) – 700 = 35 7p = 280 p = 40 Case 2: When there is loss on the item (CP > SP). 700 – (455 + 7p) = 35 7p = 210 p = 30 Possible values of ‘p’ = 30 and 40 Quantity II: New SP of the article (when initially there is loss) = (455 + 7p) = Rs.665 Minimum SP of the article, when it is sold for Rs.'q' more = 665 + 210 = Rs.875 Minimum profit% = (875-700)/700 × 100 = 25% Which means profit% will be more than 25%. Hence, relationship between Quantity I and Quantity II cannot be determined.

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