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    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. The question consists of two statements numbered ā€œI and IIā€ given below it. You have to decide whether the data provided in the statements are sufficient to answer the question.
    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 Ɨ (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 Ɨ 30 = Rs. 90. Therefore, the data in both statements I and II together is necessary to answer the question.

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