Question

Direction: Each question below is followed by two statements I and II. You have to determine whether the data given in the statement is sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the best possible answer.

What is the marked price of the chair?

Statement I. The chair is marked 30% above the cost price.

Statement II. A discount of 40% was given due to which there was a loss of 10%. The cost price of the chair is Rs.600

1.

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

2.

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

3.

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

4.

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

5.

Neither statement I nor statement II is sufficient to answer the question.

Answer 1

Correct Answer - Option 2 :

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

Concept:

MP = SP × 100/(100 – x)

SP = (100 – y) of CP

Where,

MP = Marked price

SP = Selling price

CP = Cost price

x = Discount percent

y = Loss percent

Statement I.

Relation between marked price and cost price is given, but cost price is not given

So, statement I alone is not sufficient

Statement II.

Cost price is given

Profit = (100 – 10)% of 600 = Rs.540

Marked price = 540 × {100/(100 – 40)}

⇒ (540 × 100)/60 = Rs.900

So, statement II alone is sufficient

∴ The statement II alone is sufficient to answer the question but, statement I alone is not sufficient.