Question

Akash purchased a pair of jeans. What is its marked price?
Statement 1: After giving a discount of 15% on marked price, the shopkeeper earns a profit of 10%
Statement 2: The shopkeeper gets every pair of jeans from the market outlet for ` 600

• A. statement (1) alone is sufficient to answer the question
• B. statement (2) alone is sufficient to answer the question
• C. both the statements together are needed to answer the question
• D. statement (1) alone or statement (2) alone is sufficient to answer the question
• E. neither statement (1) nor statement (2) suffices to answer the question

Answer 1

The Correct Option is C

The correct answer is option (C):

both the statements together are needed to answer the question

Let's analyze the problem to determine the marked price of the jeans. We need to find information that relates the marked price to other prices like cost price and selling price, considering discounts and profits.

Statement 1: After giving a discount of 15% on the marked price, the shopkeeper earns a profit of 10%.
This statement gives us relationships between marked price (MP), selling price (SP), and cost price (CP).
* SP = MP - 0.15 * MP = 0.85 * MP (After the discount)
* SP = CP + 0.10 * CP = 1.10 * CP (After the profit)
We have two equations here, but we can't solve for MP because we only know the relationship between MP and CP.

Statement 2: The shopkeeper gets every pair of jeans from the market outlet for ` 600.
This statement provides the cost price (CP) of the jeans: CP = `600

Now let's consider both statements together.
We can substitute the CP value from statement 2 into the equations from statement 1.
* SP = 1.10 * CP = 1.10 * 600 = `660
We also know SP = 0.85 * MP
Therefore, MP = SP / 0.85 = 660 / 0.85 = `776.47 (approximately)
By combining both statements, we were able to calculate the Marked price.

Therefore, the correct answer is: both the statements together are needed to answer the question