New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    Each of the questions given below has one question and two statements marked I and II. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and give answer.

    What is the percentage profit earned by selling a car for Rs. 5,40,000?

    I.The amount of profit earned by selling the car is Rs. 2,70,000.

    II. The SP of the car is twice the CP.

    A If the data in statement I alone are sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question. Correct Answer Incorrect Answer
    B 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. 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 statement I and II together are needed to answer the question. Correct Answer Incorrect Answer

    Solution

    From I, CP = 5,40,000 – 2,70,000 = Rs. 2,70,000 Profit % = 270000/270000 × 100 = 100% Hence from I we can find the percentage profit. From II, SP = 2 × CP If CP be x then SP will be 2x. Profit = 2x – x = x Profit % = x/x × 100 = 100% So 100% profit will be earned. Hence from II we can find the percentage profit.

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