CMAT Exam 2023 Shift 1 Solved Paper

Question : 11 of 100

Marks: +1, -0

Given below are two statements:
Statement I : The difference between the cost price and sale price of an article is ₹ 240 . If the profit is

20 \%

, then the selling price is ₹ 1440 .
Statement II: If the cost price of 10 DVDs is equal to the selling price of 7 DVDs, then the gain percent is

42 \;{6}/{7}

In the light of the above statements, choose the most appropriate answer from the options given below:

Solution:

Statement I:
It is given, profit percentage

=20 \%

This implies,

S P=\;{120}/{100} C P

It is given,

\;{120}/{100} C P-C P=240

\;\;{20}/{100} C P=240

\;C P=1200

\;S P=1200+240=\;\text " Rs "\; 1440

Therefore, statement I is correct.
Statement II:
It is given,

10 C P=7 S P

Profit \%

=\;{S P-C P}/{C P} × 100=\;{300}/{7}=42 \;{6}/{7} \%

Therefore, statement II is correct.
The answer is option A.

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