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Directions : Each of the following questions is followed by three statements I, II and III. Find out whether the data given in each statement is sufficient to answer the questions.
What is the ratio between the marked price of two identical items, P and Q, which had been purchased at the same price?
I. Item P was sold at a profit of 20%, while item Q was sold at a loss of 10%.
II. Item P was sold at a discount of 4%. The percentage by which Item Q’s cost price been marked up is 2.5 times the profit % earned on selling item P.
III. The overall profit earned on selling items P and Q was 5%.
Only I and II.
All I, II and III.
Any two of the three.
Only II and III.
The information provided in all three statements are not sufficient.
- Let's break down the statements:
- I: Says profit% on P (+20%) and loss% on Q (-10%). With same cost price, this gives us selling prices, but not marked prices.
- II: P sold at 4% discount on marked price, and Q’s markup% = 2.5 × 20% = 50% over cost. This connects CP, MP and SP for both.
- III: Overall profit on both = 5%. This links total cost and total selling price, but not directly to marked prices.
- Combining I and II:
- You have P’s profit% and discount% (lets you calculate marked price for P).
- For Q, you have loss% and markup% (lets you get to marked price for Q).
- With both equations, you can find ratio of marked prices. So, this combination is sufficient.
- III alone or with any other doesn’t add useful new relationships for marked price ratio.
- Option 1: Only I and II gives enough info.
- Option 2 & 3: Don’t need all three or any two by random.
- Option 4: II and III alone not enough.
- Option 5: Incorrect, information IS sufficient.
By: Parvesh Mehta ProfileResourcesReport error
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