Question

A shopkeeper sells some articles at a profit of $20\%$ on the cost price. Find the amount of profit.
I. Cost price of the article is Rs. $2400$.
II. Selling price of the article is Rs. $480$ more than the cost price. 

• A. I alone sufficient; II alone not.
• B. II alone sufficient; I alone not.
• C. Either I alone or II alone sufficient.
• D. Even I + II together not sufficient.
• E. I + II together necessary.

Hint:

If the required value is directly computable from a single statement, mark “either” only when each statement independently suffices.

Answer 1

The Correct Option is C

I: Profit $=20\%\text{ of }2400= \text{Rs. }480$ (sufficient).
II: Profit is directly given as Rs. $480$ (sufficient).
Hence either statement suffices.