Exams › IBPS PO › Quantitative Aptitude

A shopkeeper marked up a pen by a certain percentage above its cost price. If the marked price of the pen is \(Y\), then find the value of \(Y\). Statement I: \(Y\) is marked up 80% above the cost price. Statement II: The cost price of the pen is Rs. \(X\). If the shopkeeper allows a discount of 4% on the marked price, then he makes a profit of 8%. When the shopkeeper sells the pen at the marked price, he makes a profit of Rs. 28. Statement III: The cost price of the pen is Rs. \(P\). If the shopkeeper allows a discount of \(22\frac{2}{9}\%\) on the marked price, then he makes a profit of Rs. 70.

1. Statement (I) alone is sufficient to answer the question
2. Statement (II) alone is sufficient to answer the question
3. All the three statements taken together are necessary to answer the question
4. Either statement (II) alone or statement (I) and (III) together sufficient to answer the question

Correct answer: Either statement (II) alone or statement (I) and (III) together sufficient to answer the question

Solution

Statement I only gives the markup percentage, not the actual marked price. Statement II is sufficient because the discount and profit conditions allow the marked price to be determined uniquely. Statement I and III together are also sufficient, so the correct choice is the option stating either Statement II alone or Statements I and III together.

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