Direction:- Below question is followed by two statements I and II. You have to determine whether the data given in the statements are sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose between the possible answers What is the profit earned by selling a calculator for Rs. 2575? I. The cost price of 5 such calculators is equal to selling price of 4 such calculators. II. 25% profit is earned by selling each calculator.

Direction:- Below question is followed by two statements I and II. You have to determine whether the data given in the statements are sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose between the possible answers

What is the profit earned by selling a calculator for Rs. 2575?

I. The cost price of 5 such calculators is equal to selling price of 4 such calculators.

II. 25% profit is earned by selling each calculator.

A The statement I alone is sufficient to answer the question but the statement II alone is not sufficient

B The statement II alone is sufficient to answer the question but the statement I alone is not sufficient

C Both statements I and II together are needed to answer the question

D Either to statement I alone or statement II alone is sufficient to answer the question

E You cannot get the answer from the statement I and II together but need even more data

Solution

Correct Answer: Option D

Let’s assume that the cost price of the calculator is Rs. C.

From statement (1):

The cost price of 5 such calculators is equal to selling price of 4 such calculators.

⇒ 5C = 4 × 2575

⇒ C = Rs. 2060

∴ Profit = Selling price – Cost price = 2575 – 2060 = Rs. 515

∴ Statement I alone is sufficient to answer the question.

From statement (2):

25% profit is earned by selling each calculator.

∵ Cost price of each calculator = Rs. C,

Profit earned by selling each calculator = 25% of Rs. C = 0.25C

Selling price = Cost price + profit

∴ Selling price = C + 0.25C = 1.25 C = 2575

⇒ C = 2575/1.25 = 2060

∴ Profit = 0.25 × 2060 = Rs. 515

∴ The statement II alone is sufficient to answer the question.

∴ Either to statement I alone or statement II alone is sufficient to answer the question.

Solution

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