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Each of the questions given below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements is sufficient to answer the question. Read both the statements. Give answer
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Each of the questions given below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements is sufficient to answer the question. Read both the statements. Give answer
What is the cost price of article ?
I. A man earns a profit of 20% on selling the article.
II. The selling price of article is Rs. 5016.
1). if the data in statement I alone is sufficient to answer the question, while the data in statement II alone is not sufficient to answer the question.
2). if the data in statement II alone is sufficient to answer the question, while the data in statement I alone is not sufficient to answer the question.
3). if the data in statement I alone or in statement II alone is sufficient to answer the question.
4). if the data in both the statements I and II is not sufficient to answer the question.
1 answers
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Solution
Clearly, both statements are required.
Let cost price = Rs. $100x$
Selling price after profit of 20% = $\frac{120}{100} \times 100x$
= Rs. $120x$
From statement II : Selling price = Rs. 5,016
=> $120x = 5016$
=> $x = \frac{5016}{120} = 41.8$
$\therefore$ Cost price = $100 \times 41.8$
= Rs. $4,180$
Thus, both statements together are required to answer the question.