What is the profit percentage? Statement I: Cost price is Rs. <span class="math-inline" data-latex-source="400" data-display-mode="false" contenteditable="false"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mn>400</mn></mrow><annotation encoding="application/x-tex">400</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="base"><span class="strut" style="height:0.6444em;"></span><span class="mord">400</span></span></span></span></span> and selling price is Rs. <span class="math-inline" data-latex-source="460" data-display-mode="false" contenteditable="false"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mn>460</mn></mrow><annotation encoding="application/x-tex">460</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="base"><span class="strut" style="height:0.6444em;"></span><span class="mord">460</span></span></span></span></span>. Statement II: Profit is Rs. <span class="math-inline" data-latex-source="60" data-display-mode="false" contenteditable="false"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mn>60</mn></mrow><annotation encoding="application/x-tex">60</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="base"><span class="strut" style="height:0.6444em;"></span><span class="mord">60</span></span></span></span></span>. Choose the standard data-sufficiency option.
Practice this question from Chapter Mock 16: Data Sufficiency, with options and an explanation.
Question
What is the profit percentage?
Statement I: Cost price is Rs. <span class="math-inline" data-latex-source="400" data-display-mode="false" contenteditable="false"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mn>400</mn></mrow><annotation encoding="application/x-tex">400</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="base"><span class="strut" style="height:0.6444em;"></span><span class="mord">400</span></span></span></span></span> and selling price is Rs. <span class="math-inline" data-latex-source="460" data-display-mode="false" contenteditable="false"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mn>460</mn></mrow><annotation encoding="application/x-tex">460</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="base"><span class="strut" style="height:0.6444em;"></span><span class="mord">460</span></span></span></span></span>.
Statement II: Profit is Rs. <span class="math-inline" data-latex-source="60" data-display-mode="false" contenteditable="false"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mn>60</mn></mrow><annotation encoding="application/x-tex">60</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="base"><span class="strut" style="height:0.6444em;"></span><span class="mord">60</span></span></span></span></span>.
Choose the standard data-sufficiency option.
Option A — Correct answer
A
Correct choice.
Option B
B
Option C
C
Option D
D
Option E
E
Explanation
Statement I alone is sufficient because profit percentage $=\frac{60}{400}\times100=15\%$. Statement II alone is insufficient because the cost price is missing. So the answer is A.