A shopkeeper makes a 25% profit on some items by selling them at a lower price. What is the exact profit margin? Which of the following information from Statements I and II is/are required to determine the answer? I. Sale price of the article II. Number of articles sold
A. Only I is necessary
B. Only II is necessary
C. Either I or II is necessary
D. Both I and II are necessary
Answer:D
A shopkeeper makes a 25% profit on some items by selling them at a lower price. What is the exact profit margin? Which of the following information from Statements I and II is/are required to determine the answer? I. Sale price of the article II. Number of articles sold
A. Only I is necessary B. Only II is necessary C. Either I or II is necessary D. Both I and II are necessary
Explanation: Gain equals 25% of C.P.We need to know the sale price of each piece and the number of articles sold in order to find profit.