| Direction: Study the following information carefully and answer the given questions. |
| Give answer |
| What should be the selling price of a mobile phone in order to get profit of\[14\frac{2}{7}%\]? |
| I. The price of the mobile phone is marked 40% above the cost price and after allowing a discount of 25% the seller gets a profit of 5%. |
| II. The price of the mobile phone is marked 45% above the cost price and a discount of 20% is allowed. If no discount is allowed the seller gets Rs. 8120 more as profit. |
A) if the data in statement I alone are sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question.
B) 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.
C) if the data either in statement I alone or in statement II alone are sufficient to answer the question.
D) if the data in both statements I and II together are not sufficient to answer the question.
E) if the data in both statements I and II together are necessary to answer the question.
Correct Answer: B
Solution :
From I. Let the cost price of the mobile phone be Rs. x. Marked price = Rs. 1.4 x Selling price\[=1.4x\times \frac{75}{100}=\]Rs. 1.05 x Here, we don?t know the exact value of the selling price From II. Let the cost price of the mobile phone be Rs. x. Marked price = 1.45 x Selling price after discount \[=1.45x\times \frac{80}{100}\] \[=Rs.\,1.16\,x\] If no discount is allowed then the selling price \[=Rs.\,1.45\,x\] Now according to question, So, 1.45x - 1.16x = 8120 or, \[x=\frac{8120}{0.29}=Rs.\,28000\] \[\therefore \] Reqd selling price\[=28000\times \frac{8}{7}=Rs.\,32000\]
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