Question

Given below are two statements:
Statement I : The difference between the cost price and sale price of an article is ₹ 240. If the profit is 20%, then the selling price is ₹ 1440. 
Statement II: If the cost price of 10 DVDs is equal to the selling price of 7 DVDs, then the gain percent is \(42\frac{6}{7}\).
In the light of the above statements, choose the most appropriate answer from the options given below:

• A. Both Statement I and Statement II are correct
• B. Both Statement I and Statement II are incorrect
• C. Statement I is correct but Statement II is incorrect
• D. Statement I is incorrect but Statemenent II is correct

Answer 1

The Correct Option is A

The correct option is(A): Both Statement I and Statement II are correct