Question

Each question below is followed by two statements I and II. You have to determine whether the data given in the statements are sufficient for answering the question. You should use the data and your knowledge of mathematics to choose the best possible answer.

What is the profit percentage earned by Ajeet by selling the article?

Statement I: Ajeet sold the article for Rs. 128. If he sold it for Rs. 8 more, she would have earned a profit of 70%.

Statement II: Ajeet marked the price of the article 80% above the cost price and sold it for Rs. 128 at a discount of Rs. 16 on the marked price.

1.

If the data in statement I alone is sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question.

2.

If the data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.

3.

If the data either in statement I alone or in statement II alone is sufficient to answer the question.

4.

If the data in both statements I and II together are not sufficient to answer the question.

5.

If the data in both statements I and II together are needed to answer the question.

Answer 1

Correct Answer - Option 3 :

If the data either in statement I alone or in statement II alone is sufficient to answer the question.

Calculation:

Let the cost price of the article be Rs. x.

From statement I

Supposed selling price of article = x × {(100 + 70)/100} = 128 + 8

⇒ x × {170/100} = 136

⇒ x = (136 × 100)/170

⇒ x = 13600/170

⇒ x = 80

Profit percent = {(128 – 80)/80} × 100

⇒ {48/80} × 100

⇒ 4800/80

⇒ 60%

So, the statement I alone is sufficient to answer the question.

From statement II

 Selling price of the article = x × {(100 + 80)/100} – 16 = 128

⇒ x × {180/100} – 16 = 128

⇒ x × {180/100} = 144

⇒ x = (144 × 100)/180

⇒ x = 14400/180

⇒ x = 80

Profit percent = {(128 – 80)/80} × 100

⇒ {48/80} × 100

⇒ 4800/80

⇒ 60%

So, the statement II alone is sufficient to answer the question.

∴ Both statement I alone and Statement II alone are sufficient to answer the question.