A shopkeeper sells some toys at Rs.250 each. What percent profit does he make? To find the answer, which of the following information given in Statements I and II is/are necessary?
I. Number of toys sold.
II. Cost price of each toy.

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Only I is necessary

Only Il is necessary

Both I and II are necessary

Either I or II is necessary

answer is B.

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Detailed Solution

Concept: The formula Profit percent = , C.P. stands for cost price, can be used to calculate profit chance. This formula will give the result.
If the trafficker sells certain toys for all, the question asks how numerous statements are demanded to calculate the profit. thus, we will apply the profit formula in this case, which is as follows Profit chance is determined solely by the selling price and cost price(C.P.) , according to the formula profit percent
Since this only provides the income and says nothing about the profit, the" statement I- Number of toys vended" isn't necessary in this case.
The profit is also determined by abating the cost price from the selling price in" statement II. Cost price of each toy.`` Thus, using this data, we can calculate the profit periphery.
Hence, the correct option is 2) Only II is necessary

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