Question

Direction: Each of the questions below consists of a question and three statements numbered I, II and III given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read all the statements and give answer:How much profit did the company earn in the year 2002?Statement I: The company earned 40% more profit in the year 2003 than that in the year 2001.Statement  II: The company earned a total profit of Rs. 20 crores in the years 2001 and 2002 taken together.Statement III: In the year 2003, the company earned 80% of the profit earned in 2002.

• (A) Either statement III alone or statements I and II together are sufficient.
• (B) Only statement III is sufficient.
• (C) Statement I and Statement II together are sufficient.
• (D) Only statement I, II, and III together are sufficient.

Answer 1

The Correct Option is D

Explanation:
Taking all statement together,Let the profit earned by company in $2001=$ Rs. $x$ and in $2002=$ Rs. $y$Profit earned in $2003=1.4x$$x+y=$ Rs. 20 crore ..... (i)From statement (III),$1.4x=y\times \frac{80}{100}$$x=\frac{4}{5}\times \frac{1}{1.4}y$$x=\frac{4}{7}y\dots .$ (ii)From equation (i) and (ii), we can get the required profit.So all the statements are required to find profit in the year $2002.$Hence, the correct option is (D).