question_answer

Directions: In the following questions, two equations numbered I and II are given. You have to solve both the equations and give answer.

What was the per cent profit/loss made/incurred by selling an article for Rs. 24000?

I. The ratio between the selling price and the cost price of the article is 5: 3, respectively.

II. The difference between the cost price and the selling price is Rs. 9600.

A) If

B) If

C) If

D) If

E) If  or the relationship cannot be established

Correct Answer: C

Solution :

From statement I,

Cost price of the article

Profit

Profit percent

From statement II,

Cost price

Hence, profit per cent can be determined.