Let the:
Marked Price = M
Selling Price = S
Cost Price = C
What is: (C / S) = ?
(1) M = 2(S)
Not sufficient
(2)
%Discount given is the percentage off of the Marked Price ——> that brings you to the final Selling Price of the item
%Discount = (M - S) / S * [100%]
And
%Profit = (S - C) / C * [100%]
Statement 2 tells us:
(M - S) / S = (S - C) / C
Not sufficient alone
Together
We are only looking for the ratio of (C / S)
Since statement 1 gives us a relationship in which the marked price (M) is in terms of the Sales Price (S) —->
We can put statement 2’s equation in terms of just C and S and find the ratio of Cost Price to Sales Price.
From here, you can logically see that the statements together are sufficient or proceed with the algebra to be sure
M = 2(S) ——-> substituting this in for M = Marked Price into statement 2’s equation we get:
(2S - S) / 2S = (S - C) / C
The S variable cancels out on the left hand side and we have
(1 / 2) = (S - C) / C
C = 2S - 2C
3C = 2S
(C / S) = (2 / 3)
C together sufficient
sritamasia wrote:
What is the ratio of the cost price of a Hershey's Chocolate to its selling price?
I. The marked price of Hershey's Chocolate is twice its selling price.
II. The percentage discount given to a buyer is equal to the percentage profit on Hershey's Chocolate.
Refer Attachment to Understand Terms(if required)
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