Question

A shopkeeper sells some articles at a profit of $20\%$ on the cost price. Find the amount of profit.
I. Cost price of the article is Rs. $2400$.
II. Selling price of the article is Rs. $480$ more than the cost price. 

• A. I alone sufficient; II alone not.
• B. II alone sufficient; I alone not.
• C. Either I alone or II alone sufficient.
• D. Even I + II together not sufficient.
• E. I + II together necessary.

Hint:

If the required value is directly computable from a single statement, mark “either” only when each statement independently suffices.

Answer 1

The Correct Option is C

1. Statement I: With \( CP=\text{Rs. }2400 \) and a \( 20\% \) profit rate, the profit amount is \( 0.2\times2400=\text{Rs. }480 \), sufficient alone.
2. Statement II: Profit amount is by definition \( SP-CP \), and this is given directly as \( \text{Rs. }480 \), sufficient alone, without even using the percentage rate.

Both statements independently give the profit amount as \( \text{Rs. }480 \), so either one alone answers the question.