Question

The question is followed by two statements numbered I and II. Mark answer as:
A toy was initially listed at a price to give the shopkeeper 20$\%$ profit of the wholesale cost. What is the wholesale cost?
I. After reducing the listed price by 10$\%$, the toy sold for a profit of Rs 10.
II. The toy sold for Rs 50.

• A. statement I alone is sufficient to provide the answer.
• B. statement II alone is sufficient to provide the answer.
• C. both statements are required to provide the answer.
• D. neither statement I nor II is sufficient to provide the answer

Answer 1

Answer: (A)

statement I alone is sufficient to provide the answer.

Answer 2

Statement I gives the percentage discount and profit, so we can find the wholesale cost using statement I alone.
Statement II only gives S.P so, we cannot find the required answer using it.
So the correct option is (A)