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Each question below is followed by two statements I and II. You have to determine whether the data given in the statements are sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the best possible answer. By selling a product for Rs.520 how much profit was earned? I. 12% discount on the market price. II. The profit was one- third of the cost price.

Each question below is followed by two statements I and II. You have to determine whether the data given in the statements are sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the best possible answer. By selling a product for Rs.520 how much profit was earned? I. 12% discount on the market price. II. The profit was one- third of the cost price. Correct Answer If the data in statement II alone is sufficient to answer the question, while the data in statement I alone is not sufficient to answer the question.

From statement (i), we have only SP and MP but since, we have neither the CP nor the profit/loss, we cannot get the answer.

From (ii),

Let the CP be x and profit be x/3

SP = CP + Profit

520 = x + x/3

520 = 4x/3

∴ x = Rs. 390

∴ Profit = 390/3 = 130

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