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The following question is accompanied by two statements (I) and (II). You have to determine which statements(s) is/are sufficient/necessary to answer the questions. The cost price, selling price and market price of a product are in arithmetic progression. If the cost price and selling price are interchanged what is the ratio of profit % made initially to discount % offered after interchanging was done? I. The product was marked up by 40% initially. II. The discount offered initially was 20%.

The following question is accompanied by two statements (I) and (II). You have to determine which statements(s) is/are sufficient/necessary to answer the questions. The cost price, selling price and market price of a product are in arithmetic progression. If the cost price and selling price are interchanged what is the ratio of profit % made initially to discount % offered after interchanging was done? I. The product was marked up by 40% initially. II. The discount offered initially was 20%. Correct Answer If each statement alone can answer the question.

Let the initial cost price be “x”

Selling price = s

Market price = m

According to given information

s – x = m – s

2s = m + x       ----(I)

Profit percentage made initially, p = (s – x)/x × 100

When cost piece and selling price are interchanged, new discount percentage

d = (m – x)/m × 100

Required ratio = p/d = m(s – x)/x(m - x) = m/2x

Statement I

m = 1.4x

p/d = 3/2x = 1.4x/2x = 0.7

Statement II

s = 0.8m

2s = m + x

1.6m = m + x

0.6m = x

m/x = 10/6

p/d = m/2x = 10/12 = 0.833

Hence, each statement alone can answer the question.

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