Please enter the following details
Given below are two statements:
Statement I : The difference between the cost price and sale price of an article is ₹ 240. If the profit is 20%, then the selling price is ₹ 1440.
Statement II: If the cost price of 10 DVDs is equal to the selling price of 7 DVDs, then the gain percent is $$42\frac{6}{7}%$$
In the light of the above statements, choose the most appropriate answer from the options given below:
Statement I:
It is given, profit percentage = 20%
This implies, $$SP=\frac{120}{100}CP$$
It is given, $$\frac{120}{100}CP-CP=240$$
$$\frac{20}{100}CP=240$$
$$CP=1200$$
SP = 1200+240 = Rs 1440
Therefore, statement I is correct.
Statement II:
It is given,
10CP = 7SP
Profit % = $$\ \frac{\ SP-CP}{CP}\times100=\frac{300}{7}=42\frac{6}{7}\%$$
Therefore, statement II is correct.
The answer is option A.
Create a FREE account and get:
- All Quant Formulas and shortcuts PDF
- 40+ previous papers with detau solutions PDF
- Top 500 MBA exam Solved Questions for Free
