This question can be solved using the percentage values provided. Since this is a ‘Could be’ type of question, a better idea would be to use the alligation diagram to prove a statement right, once (wherever feasible)
Let’s take the case of statement I. Let’s draw the alligation diagram for these values:
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The concentration of the mixture is less than 50%. It means statement I is a possible value. Therefore, options B and C can be eliminated. Possible answer options are A, D and E.
Let’s take the case of statement III. Instead of drawing the alligation diagram here, let us apply the percentage values and calculate the concentration of acid.
Marcia’s solution has 1.2 litres (60% 0f 2 litres) of phosphoric acid.
The 40% solution of 2 litres will have 0.8 litres of acid and the 45% solution of 1 litre will have 0.45 litres.
When we mix all the three, the total volume will be 5 litres; the total volume of phosphoric acid will be (1.2 + 0.8 + 0.45) i.e. 2.45 litres. This is less than 50% concentration.
So, statement III is possible. So, answer options A and D can be eliminated. The correct answer option is E.
By evaluating statement I, we were able to eliminate B and C. More importantly, by evaluating statement III and proving it true, we ensured that we don’t even have to evaluate statement II. This is a good strategy to adopt in questions, where the options are framed like the way they are.
Hope this helps!