The bar graph given below shows the cost price and selling price of 5…
2021
The bar graph given below shows the cost price and selling price of 5 articles. Profit amount = Selling price – Cost price Loss amount = Cost price – Selling price Profit percent/Loss percent = [(Profit/Loss)/Cost price] × 100 Which of the following statement(s) is/are not correct? I. If the cost price of A and E gets interchanged, then there will be a loss of 24 percent on E. II. Profit earned on D is 25 percent.
- A.
Only I
- B.
Only II
- C.
I and II both
- D.
Neither I nor II
Attempted by 44 students.
Show answer & explanation
Correct answer: D
Analyze Statement I: If CP of A (250) and E (100) are interchanged, E's new CP = 250. Selling Price (SP) of E = 190. Loss = 250 - 190 = 60. Loss % = (60/250) × 100 = 24%. Statement I is correct.
Analyze Statement II: For article D, CP = 240, SP = 300. Profit = 300 - 240 = 60. Profit % = (60/240) × 100 = 25%. Statement II is correct.
Since the question asks which statement is NOT correct, and both are correct, the answer is "Neither I nor II".
Final Answer: Option 4