Directions: Each of the following questions consists of a question followed by three statements I, II and III. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question. What was the amount of profit earned? I. 10% discount was offered on the labelled price. II. Had there been no discount, profit would have been 30%. III. Selling price was more than the cost price by 20%.

### Concept & Logic To find an absolute value (like the exact amount of profit earned in rupees), at least one absolute value (actual Cost Price, Selling Price, Marked Price, or Discount amount) must be provided in the statements. ### Step-by-Step Solution * Statement I gives the discount percentage ($10\%$). * Statement II gives a hypothetical profit percentage without discount ($30\%$). * Statement III gives the actual profit percentage ($20\%$). * All three statements provide only relative values (percentages). They tell us about the relationship between Cost Price, Selling Price, and Labelled Price. * Since there is no absolute monetary value given in any of the statements, it is impossible to calculate the exact amount of profit earned. ### Exam Strategy & Shortcut Scan the statements for absolute numbers (like ₹ 500, 10 kg, etc.). If all statements only contain percentages, ratios, or fractions, and the question asks for an exact value, the answer will always be that the data is insufficient. ### Common Pitfall Attempting to solve by assuming a Cost Price of ₹ 100. This will give a profit of ₹ 20, but this is a relative value, not the actual amount of profit earned. ### Final Answer Therefore, the correct answer is **Question cannot be answered even with the information in all the three statements.**