The following question has three statements. Study the question and the statements and decide which of the statement(s) is necessary to answer the question. At what price should the book be sold to earn a profit of 15%? I) If the book is sold for Rs. 297, profit earned is 35%. II) If the book is sold for Rs. 198, there is a loss of 10%. III) If the book is sold for Rs. 220, there is no profit no loss.
The following question has three statements. Study the question and the statements and decide which of the statement(s) is necessary to answer the question. At what price should the book be sold to earn a profit of 15%? I) If the book is sold for Rs. 297, profit earned is 35%. II) If the book is sold for Rs. 198, there is a loss of 10%. III) If the book is sold for Rs. 220, there is no profit no loss. Correct Answer Any one
Let the cost price be Rs. ‘x’
Considering statement I,
Cost price + Profit = Selling price
⇒ x + 0.35x = 297
⇒ x = 297/1.35 = Rs. 220
Selling price for profit 15% = 220 + 15% of 220 = 220 + 33 = Rs. 253
Considering statement II,
Cost price - loss = Selling price
⇒ x - 0.1x = 198
⇒ x = 198/0.9 = Rs. 220
Selling price for profit 15% = 220 + 15% of 220 = 220 + 33 = Rs. 253
Considering statement III,
When no profit no loss,
Cost price = Selling price
⇒ x = Rs. 220
Selling price for profit 15% = 220 + 15% of 220 = 220 + 33 = Rs. 253
∴ The question can be answered using any one of the given statements