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Each of the questions 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:
The profit percentage gained and discount percentage offered on a product are in the ratio of 1:2. Discount offered is what percentage of selling price of the product?
I. The product was marked up by 50%
II. Total discount offered is 4 times the total profit made.
  • a)
    If statement I alone is sufficient to answer the question and Statement II alone is not sufficient to answer the question
  • b)
    If statement II alone is sufficient to answer the question and Statement I alone is not sufficient to answer the question.
  • c)
    If each statement alone can answer the question
  • d)
    If both statements together are needed to answer the question
  • e)
    If question can't be answered even after using both statements together.
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Each of the questions below consists of a question and two statements...
Let cost price of commodity be "c"
Marked price be "m"
Selling price be "s"
Profit percentage be "p%"
Discount percentage be "d%"
p/d = ½ ..................(i)
s = (1+ p/100)c .........(ii)
s= (1-d/100)m .........(iii)
Statement I
It says that the product was marked up by 50%
m = 1.5c
using (i), (ii) and (iii)
c+ pc/100 = m - md/100
p/100 (c + 2m) = m-c
or p = 0.5/4 x 100 = 12.5%
d= 25%
discount = 25/100 x m = ¼ x 1.5c = 0.375 c
s = (1+ 12.5/100)c
s=1.125c
Required % = discount/selling price x 100 = 0.375c/1.125c * 100 = 33.33%
Statement II
It says that total discount offered is four times total profit made.
So,
d/100 x m = 4 x p/100 x c
or m/c = 4 x p/d
m = 2c
using (i), (ii) and (iii)
c+ pc/100 = m - md/100
p/100 (c + 4c) = m-c
or p = 1/5 x 100 = 20%
d= 40%
discount = 40/100 x m = 4/10 x 2c = 0.8 c
s = (1+ 20/100)c
s=1.2c
Required % = discount/selling price x 100 = 0.8c/1.2c × 100 = 66.66%
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Most Upvoted Answer
Each of the questions below consists of a question and two statements...
Statement Analysis:

Statement I:
- The product was marked up by 50%.

Statement II:
- Total discount offered is 4 times the total profit made.

Explanation:

Calculating Discount Percentage:
- Let the profit percentage be 1x and the discount percentage be 2x.
- According to the given ratio, profit percentage: discount percentage = 1:2.
- Therefore, profit percentage = 1x and discount percentage = 2x.

Using Statement I:
- If the product was marked up by 50%, we can calculate the selling price.
- However, we still need to know the cost price to calculate the discount percentage.

Using Statement II:
- Total discount offered is 4 times the total profit made.
- This information alone does not provide the exact profit percentage or discount percentage.

Conclusion:
- Each statement alone is not sufficient to answer the question.
- Both statements together are needed to calculate the profit percentage and discount percentage accurately.
- Therefore, the correct answer is option 'C' - If each statement alone can answer the question.
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Each of the questions 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:The profit percentage gained and discount percentage offered on a product are in the ratio of 1:2. Discount offered is what percentage of selling price of the product?I. The product was marked up by 50%II. Total discount offered is 4 times the total profit made.a)If statement I alone is sufficient to answer the question and Statement II alone is not sufficient to answer the questionb)If statement II alone is sufficient to answer the question and Statement I alone is not sufficient to answer the question.c)If each statement alone can answer the questiond)If both statements together are needed to answer the questione)If question can't be answered even after using both statements together.Correct answer is option 'C'. Can you explain this answer?
Question Description
Each of the questions 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:The profit percentage gained and discount percentage offered on a product are in the ratio of 1:2. Discount offered is what percentage of selling price of the product?I. The product was marked up by 50%II. Total discount offered is 4 times the total profit made.a)If statement I alone is sufficient to answer the question and Statement II alone is not sufficient to answer the questionb)If statement II alone is sufficient to answer the question and Statement I alone is not sufficient to answer the question.c)If each statement alone can answer the questiond)If both statements together are needed to answer the questione)If question can't be answered even after using both statements together.Correct answer is option 'C'. 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 Each of the questions 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:The profit percentage gained and discount percentage offered on a product are in the ratio of 1:2. Discount offered is what percentage of selling price of the product?I. The product was marked up by 50%II. Total discount offered is 4 times the total profit made.a)If statement I alone is sufficient to answer the question and Statement II alone is not sufficient to answer the questionb)If statement II alone is sufficient to answer the question and Statement I alone is not sufficient to answer the question.c)If each statement alone can answer the questiond)If both statements together are needed to answer the questione)If question can't be answered even after using both statements together.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Each of the questions 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:The profit percentage gained and discount percentage offered on a product are in the ratio of 1:2. Discount offered is what percentage of selling price of the product?I. The product was marked up by 50%II. Total discount offered is 4 times the total profit made.a)If statement I alone is sufficient to answer the question and Statement II alone is not sufficient to answer the questionb)If statement II alone is sufficient to answer the question and Statement I alone is not sufficient to answer the question.c)If each statement alone can answer the questiond)If both statements together are needed to answer the questione)If question can't be answered even after using both statements together.Correct answer is option 'C'. Can you explain this answer?.
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