Question

By selling a product for Rs. $100$ how much profit was earned?
(I) $20\%$ profit would have been earned if it had been sold for Rs. $90$.
(II) The profit was one-third of the cost price

• A. Statement (I) ALONE is sufficient, but statement (II) B alone is not sufficient
• B. Statement (II) ALONE is sufficient, but statement (I) alone is not sufficient
• C. BOTH statements TOGETHER are sufficient, but NEITHER statement alone is sufficient
• D. EACH statement ALONE is sufficient

Answer 1

Answer: (D)

EACH statement ALONE is sufficient

(I) $\Rightarrow C.P.$ can be calculated since
$C.P.=\frac{S.P.\times 100}{(100+percentprofit)}$
Also, since profit $=S.P.-C.P.$
$\therefore$ Profit can be calculated using statement (I) alone.
(II) $\Rightarrow C.P.=\frac{1}{3}\times Profit$ and $Profit=S.P.-C.P.$
Therefore, each statement alone is sufficient to answer the question.