Question

The question below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and give answer
By selling a product at 20\(\%\) profit, how much profit was earned?
I. The difference between cost and selling price is Rs.40.
II. The selling price is 120 per cent of the cost price.

• A. the data in statement I alone are sufficient to answer the question, while the data in statement II alone are not sufficient to answer the question.
• B. the data in statement II alone are sufficient to answer the question, while the data in statement I alone are not sufficient to answer the question.
• C. the data either in statement I alone or in statement II alone are sufficient to answer the question.
• D. the data even in both statements I and II together are not sufficient to answer the question.

Answer 1

The Correct Option is D

Let's analyze the statements:
Statement I: The difference between cost price and selling price is Rs. 40, but no actual cost or selling price is provided.
Statement II: The selling price is 120% of the cost price, but no specific values for cost or selling price are given.
Even when combined, we cannot determine the actual profit earned without knowing the specific cost price or selling price.
So, the correct option is (D): Both statements together are not sufficient to answer the question.