Explanation:

- Statement I: Item P has a profit of 20%, while Item Q has a loss of 10%. This information gives us the relationship between their selling prices, but not directly about their marked prices.

- Statement II: Item P was sold at a 4% discount. Item Q’s marked up percentage is 2.5 times the profit percentage on P. This gives a direct relation for calculating marked prices ratio.

- Statement III: The combined profit on selling P and Q is 5%. This provides overall profitability but doesn’t directly relate marked prices.

- Option 1: Only I and II. ?? Correct Answer

Using Statements I and II, the information about profits, losses, discounts, and markup can help derive the marked price ratio of P and Q.

- Option 2: All I, II, and III.

While this may sound inclusive, statement III doesn't give additional useful data for marked prices.

- Option 3: Any two of the three.

Not every combination of two statements is enough. Specifically, statements I and II together suffice.

- Option 4: Only II and III.

These statements together do not provide a sufficient solution.

- Option 5: The information provided in all three statements are not sufficient.

Results can be found using only the first two statements.