Direction: Each question below is followed by two statements I and II

1.	Direction: Each question below is followed by two statements I and II. You have to determine whether the data given in the statement is 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% of the marker on selling price?Statement I. The marker is marked 15% above the cost price.Statement II. A discount of 4% is given and the cost price the marker is Rs. 250.1. The statement I alone is sufficient to answer the question but, statement II alone is not sufficient.2. The statement II alone is sufficient to answer the question but, statement I alone is not sufficient.3. Both the statements I and II together are needed to answer the question.4. Either statement I alone or statement II alone is sufficient to answer the question.5. Neither statement I nor statement II is sufficient to answer the question.
Answer» Correct Answer - Option 3 : Both the statements I and II together are needed to answer the question. Formula Used: SP = MRP × (1 – D%/100) Profit = SP – CP Profit% on SP = (P/SP) × 100 where, MRP → Marked price, SP → Selling price, CP → Cost price, D% → Discount percent, P% → Profit percent Calculations: Statement I. Relation between MRP and CP is given, but the CP is not given ⇒ Statement I alone is not sufficient Statement II. CP = Rs. 250 MRP = Rs. (115/100) × 250 ⇒ MRP = Rs. 287.5 SP = MRP × (1 – D%/100) ⇒ SP = 287.5 × (1 – 4/100) ⇒ SP = Rs. 276 Profit = Rs. (276 – 250) ⇒ Profit = Rs. 26 Now, Profit% on SP = (P/SP) × 100 ⇒ Profit% on SP = (26/276) × 100 ⇒ Profit% on SP = 9.4% ∴ The statement I and statement II both are needed to answer the question.

Direction: Each question below is followed by two statements I and II. You have to determine whether the data given in the statement is 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% of the marker on selling price?Statement I. The marker is marked 15% above the cost price.Statement II. A discount of 4% is given and the cost price the marker is Rs. 250.1. The statement I alone is sufficient to answer the question but, statement II alone is not sufficient.2. The statement II alone is sufficient to answer the question but, statement I alone is not sufficient.3. Both the statements I and II together are needed to answer the question.4. Either statement I alone or statement II alone is sufficient to answer the question.5. Neither statement I nor statement II is sufficient to answer the question.

Answer» Correct Answer - Option 3 : Both the statements I and II together are needed to answer the question.

Formula Used:

SP = MRP × (1 – D%/100)

Profit = SP – CP

Profit% on SP = (P/SP) × 100

where, MRP → Marked price, SP → Selling price, CP → Cost price, D% → Discount percent,

P% → Profit percent

Calculations:

Statement I.

Relation between MRP and CP is given, but the CP is not given

⇒ Statement I alone is not sufficient

Statement II.

CP = Rs. 250

MRP = Rs. (115/100) × 250

⇒ MRP = Rs. 287.5

SP = MRP × (1 – D%/100)

⇒ SP = 287.5 × (1 – 4/100)

⇒ SP = Rs. 276

Profit = Rs. (276 – 250)

⇒ Profit = Rs. 26

Now, Profit% on SP = (P/SP) × 100

⇒ Profit% on SP = (26/276) × 100

⇒ Profit% on SP = 9.4%

∴ The statement I and statement II both are needed to answer the question.

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