Question
Download Solution PDFThe line chart given below shows the cost price and value of profit of 6 articles J, K, L, M, N and P.
Which of the following statement is correct?
I. The combined cost price of J and K is 100 percent more than the combined profit of L and M.
II. The ratio of combined profit of N and P to the combined cost price of K and M is 2 ∶ 1.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFCalculation:
Statement I:
The combined cost price of J and K = 650 + 550 = 1200
The combined profit of L and M = 250 + 350 = 600
The combined cost price of J and K is more than the combined profit of L and M by (1200 - 600) = 600, which is 100 percent of the combined profit of L and M.
Statement I is true.
Statement II:
Combined profit of N and P = 200 + 300 = 500
Combined cost price of K and M = 550 + 450 = 1000
Ratio = 500 : 1000 = 1 : 2
Statement II is wrong.
∴ Option 2 is the correct answer.
Last updated on Jun 26, 2025
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