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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: What should be the selling price of a camera for a seller so as to obtain a profit of 12%?
I. Seller marked the camera 60% above the cost price and after allowing two successive discounts of 10% and 15% claims a profit of ₹5376.
II. Seller sold the camera at a profit of 20%. If he had sold it for ₹1440 more he would have got a profit of 28%.
III. Seller sold the camera to Raja at a profit of 10% and Raja marked the camera 45% above the cost price and after allowing a discount of 20% sold it to Raj at ₹22968.
  • a)
    Either I or II or III
  • b)
    All I, II and III
  • c)
    Either I or II
  • d)
    Both I and III
  • e)
    None are sufficient.
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Each of the questions below consists of a question and three statemen...
From I
Let the cost price of the camera be ₹100
Marked price = ₹160
Equivalent discount = 10 + 15 - (10 x 15)/100 = 23.5%
Selling price = 160 x (100 - 23.5)/100 = 122.4
Profit = (122.4 - 100) = ₹22.4
For profit of ₹22.4 cost price is ₹100
Then, for a profit of ₹5376, cost price = (5376 x 100)/22.4 = ₹24000
Required selling price = (24000 x 112/100) = ₹26880
Hence, statement I alone is sufficient.
From II: Let the cost price of camera be ₹Y
Then,
Selling price for 20% profit = 1.2Y
Selling price for 28% profit = 1.28Y
Difference of selling price = ₹1440
1.28Y - 1.2Y = 1440
Y = ₹18000
Thus, required selling price = (18000 x 112/100) = ₹20160
Hence, statement II alone is sufficient.
From III: Let the cost price of the seller be ₹Y
Selling price of Seller is the same as the cost price for Raja.
Thus, Y x 110/100 x 145/100 x 80/100 = ₹22968
Y = (22968 x 100/110 x 100/145 x 100/80) = ₹18000
Thus, required selling price = (18000 x 112/100) = ₹20160
Hence, statement III alone is sufficient.
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Most Upvoted Answer
Each of the questions below consists of a question and three statemen...
Statement I:
- The seller marked the camera 60% above the cost price.
- After allowing two successive discounts of 10% and 15%, the seller claims a profit of ₹5376.

Statement II:
- The seller sold the camera at a profit of 20%.
- If he had sold it for ₹1440 more, he would have got a profit of 28%.

Statement III:
- The seller sold the camera to Raja at a profit of 10%.
- Raja marked the camera 45% above the cost price.
- After allowing a discount of 20%, Raja sold it to Raj at ₹22968.

Explanation:
- Statement I provides the necessary information to calculate the selling price of the camera since it gives the cost price, marked price, and profit earned by the seller.
- Statement II does not provide sufficient information to calculate the selling price directly as it only gives information about the profit percentages and an additional amount.
- Statement III also does not provide enough information to determine the selling price directly as it involves multiple transactions and does not give the actual selling price.

Therefore, only Statement I is sufficient to answer the question about the selling price of the camera.
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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: What should be the selling price of a camera for a seller so as to obtain a profit of 12%?I. Seller marked the camera 60% above the cost price and after allowing two successive discounts of 10% and 15% claims a profit of ₹5376.II. Seller sold the camera at a profit of 20%. If he had sold it for ₹1440 more he would have got a profit of 28%.III. Seller sold the camera to Raja at a profit of 10% and Raja marked the camera 45% above the cost price and after allowing a discount of 20% sold it to Raj at ₹22968.a) Either I or II or IIIb) All I, II and IIIc) Either I or IId) Both I and IIIe) None are sufficient.Correct answer is option 'A'. Can you explain this answer?
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