Directions: Each of the questions given below consists of a statement and/or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is/are sufficient to answer the question. Read both the statements and Give answer (a) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question; Give answer (b) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question; Give answer (c) if the data either in Statement I or in Statement II alone are sufficient to answer the question; Give answer (d) if the data even in both Statements I and II together are not sufficient to answer the question; Give answer (e) if the data in both Statements I and II together are necessary to answer the question. What is the percentage profit on the cost price? I. The cost price is ₹ 368.35. II. There is a 20% profit on the selling price.

### Concept & Logic Percentage profit is a relative value (a ratio). It can be entirely deduced if the ratio between Profit and Selling Price (SP) is known, without needing any absolute monetary values. $$ \text{Cost Price (CP)} = \text{Selling Price (SP)} - \text{Profit} $$ $$ \text{Profit \% on CP} = \left( \frac{\text{Profit}}{\text{CP}} \right) \times 100 $$ ### Step-by-Step Solution We need to find the Profit percentage relative to the Cost Price. - Evaluating Statement I: It gives an absolute $\text{CP} = \text{₹ } 368.35$. Without knowing SP or a profit margin, we cannot find the profit percentage. Insufficient. - Evaluating Statement II: It states there is a $20\%$ profit calculated on the Selling Price. Let SP be $100$ units. The Profit is $20\%$ of $100 = 20$ units. Therefore, $\text{CP} = \text{SP} - \text{Profit} = 100 - 20 = 80$ units. The profit percentage on CP is $\left(\frac{20}{80}\right) \times 100 = 25\%$. Statement II alone is sufficient to answer the question. The absolute value in Statement I is a distractor. ### Exam Strategy & Shortcut If a question asks for a percentage (relative metric) and a statement provides a percentage relationship between the core variables (like Profit on SP), that statement alone is usually sufficient. Absolute numbers are not needed for percentage conversions. ### Common Pitfall Assuming that you need the exact Cost Price from Statement I to calculate the percentage. Using the ugly decimal $368.35$ would only waste time, as it cancels out in the percentage fraction anyway. ### Final Answer Therefore, the correct answer is **if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question;**.