Direction: Each of the questions below consists of two statements numbered I and II given below it. You are to decide whether the data provided in the statements are sufficient to answer the questions. Read both statements and give the answer
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What was the per cent profit /loss earned incurred by selling an article for ₹ 24000 ?
I. The ratio of the selling price to the cost price of the article is 5 : 3.
II. The difference between the cost price and the selling price is ₹ 9600.
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- If the data in Statement I alone are suffcient to answer the question while the data in Statement II alone are not sufficient to answer the question
- 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
- If the data in Statement I alone or in Statement II alon are sufficient to answer the question
- if the data in both the Statement I and II are not sufficient to answer the question
- If the data in both the Statements I and II together are necessary to answer the question
Correct Option: A
Selling price of an article = ₹ 24000
From Statement I.
Cost price = 3/5 x 24000 = ₹ 14400
∴ Profit % = [(24000 - 14400)/14400] x 100
= 66.66%
From Statement II,
it is not clear that cost price is more than selling price or vice-versa.
