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. A departmental store sold a product for Rs. 1620. Find the cost price of the product. I) The store marked the price of the product 35% above its cost price. II) The product was sold at a discount of 20% on the marked price. III) The store earned a profit of 8%.?

Either I or II and III
Either II or I and III
Either III or I and II
Any two
All three

LohaHridoy

5 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 3 : Either III or I and II

Let the cost price of the product be Rs. ‘x’

Selling price = Rs. 1620

Considering statement I,

Marked price = (100 + 35)% of x = 1.35x

Considering statement II,

Discount price = 20% of Marked price

Considering statements I and II,

Discount price = 20% of 1.35x = 0.27x

Selling price = Marked price - Discount

⇒ 1620 = 1.35x - 0.27x

⇒ x = 1620/1.08 = Rs. 1500

Considering statement III,

Profit = 8% of cost price = 0.08x

Selling price = cost price + profit

⇒ 1620 = x + 0.08x

⇒ x = 1620/1.08 = Rs. 1500

∴ The question can be answered using either statement III or statements I and II

5 views Answered 2022-09-04 04:29

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