Question

A shopkeeper sells some toys at Rs. 250 each. What percent profit does he make? To find the answer, which of the following information given in Statements I and II is/are necessary?
I. Number of toys sold.
II. Cost price of each toy.

• A. Only I is necessary
• B. Only II is necessary
• C. Both I and II are necessary
• D. Either I or II is necessary
• E. None of these

Answer 1

Answer: (B)

Only II is necessary

Given that, $S.P.=Rs.250$ each.
We know that,

$\text{Profit}\%=\frac{(S.P.-C.P.)}{C.P.}\times 100$

We already have $S.P.$ and hence need only $C.P.$ to calculate percentage profit.

Hence, option B is correct.