CAT 1995 — QA Question 43
Directions for next 4 questions: Answer the questions based on the following information.
le(x, y) = Least of (x, y)
mo(x) = |x|
me(x, y) = Maximum of (x, y)
Direction: Each of these questions is followed by two statements, I and II. Mark the answer as
1. if the question can be answered with the help of statement I alone.
2. if the question can be answered with the help of statement II alone.
3. if both statement I and statement II are needed to answer the question.
4. if the question cannot be answered even with the help of both the statements.
What is the profit percentage?
I. The cost price is 80% of the selling price.
II. The profit is Rs.50.
Answer & solution
Answer: 1
It is clear that only statement I is required to answer the question, if CP = 0.8 SP, then SP = CP.
∴ SP = 1.25 CP
Thus, profit percentage is 25.