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A shopkeeper sells a phone X on 20% profit. What is the Cost Price of phone X?Statement A. Average of all the phones sold by shopkeeper is 225.Statement B. Selling Price of Phone X is Rs. 14400.a.if both statements A and B are neededb.if either of statement A or statement B alone is sufficient.c.if statement B alone is sufficient but statement A alone is not sufficientd.if both of them together are not sufficiente.if statement A alone is sufficient but B alone is not sufficient

Question

A shopkeeper sells a phone X on 20% profit. What is the Cost Price of phone X?Statement A. Average of all the phones sold by shopkeeper is 225.Statement B. Selling Price of Phone X is Rs. 14400.a.if both statements A and B are neededb.if either of statement A or statement B alone is sufficient.c.if statement B alone is sufficient but statement A alone is not sufficientd.if both of them together are not sufficiente.if statement A alone is sufficient but B alone is not sufficient

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Solution

The answer is c. Statement B alone is sufficient but statement A alone is not sufficient.

Here's why:

We know that the shopkeeper sells the phone X on a 20% profit. This means that the Selling Price (SP) of the phone X is 120% of the Cost Price (CP).

Statement A: The average price of all the phones sold by the shopkeeper is Rs. 225. This information is not relevant to finding the cost price of phone X.

Statement B: The Selling Price of Phone X is Rs. 14400. This information is sufficient to find the cost price of phone X.

We can use the formula: CP = SP / (1 + Profit%), where SP is the selling price and Profit% is the profit percentage.

So, CP = 14400 / (1 + 20/100) = Rs. 12000.

Therefore, the cost price of phone X is Rs. 12000.

This problem has been solved

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