New Register for Workshop on How to start for NABARD 2025 (Stepwise Plan) - Apr 26, 7 PM

    Question

    The question consists of two statements numbered “I and II” given below it. You have to decide whether the data provided in the statements are sufficient to answer the question.

    A shopkeeper sold an item for Rs.

    240 after giving a certain discount. Determine the profit made by the shopkeeper on this sale. Statement I: The cost price and marked price of the item are in the ratio 5:12. Statement II: The discount given on the sale of the item was Rs. 120.
    A 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 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 The data either in statement I alone or in statement II alone are sufficient to answer the question. Correct Answer Incorrect Answer
    D The data given in both statements I and II together are not sufficient to answer the question. Correct Answer Incorrect Answer
    E The data in both statements I and II together are necessary to answer the question. Correct Answer Incorrect Answer

    Solution

    ATQ, Statement I: Let the CP of the item be Rs. '5p' So, MRP of the item = 5p × (12/5) = Rs. '12p' Profit earned = Rs. (240 - 5p) So, data in statement I alone is not sufficient to answer the question. Statement II: MRP of the item = 240 + 120 = Rs.360 So, data in statement II alone is not sufficient to answer the question. On combining statements 'I' and 'II' together, we have; 12p - 120 = 240 Or, 12p = 360 So, p = 30 So, profit earned = 240 - 5 × 30 = Rs. 90. Therefore, the data in both statements I and II together is necessary to answer the question.

    Practice Next

    Relevant for Exams: