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Directions: The following questions, two statements numbered I and II are given. On solving them, we get quantities I and II respectively. Solve for both the quantities and choose the correct option.
Quantity I: A mobile dealer marks mobile at 45% above cost price and sold it at a two successive discount of 15% and 10% claims a profit of ₹1748. Then what is selling price for a profit of 15%?
Quantity II: What is sum for which compound interest is ₹414 more than simple interest for two years at the rate of 15% per annum?
  • a)
    Quantity I > Quantity II
  • b)
    Quantity I < quantity="" />
  • c)
    Quantity I ≥ Quantity II
  • d)
    Quantity I ≤ Quantity II
  • e)
    Quantity I = Quantity II or the relation can't be determined.
Correct answer is option 'E'. Can you explain this answer?
Verified Answer
Directions: The following questions, two statements numbered I and II...
Quantity I
Let cost price of mobile be ₹100
Marked price be ₹145
Equivalent discount = (15 + 10 - (15 × 10)/100) = 23.5%
Selling price = 145 × (100 - 23.5)/100 = ₹110.925
Profit = ₹10.925
For profit of ₹10.925 cost price is ₹100
Then,
For profit of ₹1748 cost price = (100 × 1748)/10.925 = ₹16000
Therefore, selling price for a profit of 15% = 1.15 × 16000 = ₹18400
Quantity II:
CI - SI = P × (R/100)2
P × (15/100)2 = 414
P = ₹18400
Hence, Quantity II = Quantity I
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Directions: The following questions, two statements numbered I and II are given. On solving them, we get quantities I and II respectively. Solve for both the quantities and choose the correct option.Quantity I: A mobile dealer marks mobile at 45% above cost price and sold it at a two successive discount of 15% and 10% claims a profit of ₹1748. Then what is selling price for a profit of 15%?Quantity II: What is sum for which compound interest is ₹414 more than simple interest for two years at the rate of 15% per annum?a)Quantity I > Quantity IIb)Quantity I c)Quantity I ≥ Quantity IId)Quantity I ≤ Quantity IIe)Quantity I = Quantity II or the relation can't be determined.Correct answer is option 'E'. Can you explain this answer?
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Directions: The following questions, two statements numbered I and II are given. On solving them, we get quantities I and II respectively. Solve for both the quantities and choose the correct option.Quantity I: A mobile dealer marks mobile at 45% above cost price and sold it at a two successive discount of 15% and 10% claims a profit of ₹1748. Then what is selling price for a profit of 15%?Quantity II: What is sum for which compound interest is ₹414 more than simple interest for two years at the rate of 15% per annum?a)Quantity I > Quantity IIb)Quantity I c)Quantity I ≥ Quantity IId)Quantity I ≤ Quantity IIe)Quantity I = Quantity II or the relation can't be determined.Correct answer is option 'E'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Directions: The following questions, two statements numbered I and II are given. On solving them, we get quantities I and II respectively. Solve for both the quantities and choose the correct option.Quantity I: A mobile dealer marks mobile at 45% above cost price and sold it at a two successive discount of 15% and 10% claims a profit of ₹1748. Then what is selling price for a profit of 15%?Quantity II: What is sum for which compound interest is ₹414 more than simple interest for two years at the rate of 15% per annum?a)Quantity I > Quantity IIb)Quantity I c)Quantity I ≥ Quantity IId)Quantity I ≤ Quantity IIe)Quantity I = Quantity II or the relation can't be determined.Correct answer is option 'E'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions: The following questions, two statements numbered I and II are given. On solving them, we get quantities I and II respectively. Solve for both the quantities and choose the correct option.Quantity I: A mobile dealer marks mobile at 45% above cost price and sold it at a two successive discount of 15% and 10% claims a profit of ₹1748. Then what is selling price for a profit of 15%?Quantity II: What is sum for which compound interest is ₹414 more than simple interest for two years at the rate of 15% per annum?a)Quantity I > Quantity IIb)Quantity I c)Quantity I ≥ Quantity IId)Quantity I ≤ Quantity IIe)Quantity I = Quantity II or the relation can't be determined.Correct answer is option 'E'. Can you explain this answer?.
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