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 was the percent profit/loss made/incurred by selling an article for ₹ 24000? I. The ratio of the selling price to the cost price of the article is 5 : 3. II. The difference between the cost price and the selling price is ₹ 9600. (Bank P.O., 2010)

### Concept & Logic Profit or loss percentage is a relative metric. It can be calculated if we know either the exact ratio of Selling Price (SP) to Cost Price (CP), or if we have enough absolute values to find both SP and CP. $$ \text{Profit \%} = \left( \frac{\text{SP} - \text{CP}}{\text{CP}} \right) \times 100 $$ ### Step-by-Step Solution The question provides $\text{SP} = \text{₹ } 24000$. We need the percent profit or loss. - Evaluating Statement I: The ratio of SP to CP is $5 : 3$. This means for every ₹ 5 of SP, the CP is ₹ 3. The profit percentage can be calculated directly from this ratio: $\frac{5 - 3}{3} \times 100 = 66.66\%$. The absolute SP of ₹ 24000 is not even needed. Statement I is sufficient. - Evaluating Statement II: The difference between CP and SP (Profit) is ₹ 9600. Since we know $\text{SP} = 24000$, we can deduce $\text{CP} = 24000 - 9600 = 14400$. With CP and Profit, we can calculate the profit percentage ($\frac{9600}{14400} \times 100$). Statement II is also sufficient. - Since either statement alone provides enough data to solve the problem, either is sufficient. ### Exam Strategy & Shortcut Whenever a question asks for a percentage (a ratio), and a statement provides a direct ratio (like Statement I), that statement is almost always independently sufficient. ### Common Pitfall Wasting time substituting the ₹ 24000 into Statement I. Ratios alone are fully sufficient to calculate percentages; absolute values act as unnecessary distractors in that specific path. ### Final Answer Therefore, the correct answer is **if the data either in Statement I or in Statement II alone are sufficient to answer the question;**.