The 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 & explanation
Correct answer: option 1
I. The combined cost price of J and K is 100 percent more than the combined profit of L and M.
Cost price of J & K = 650 + 550 = 1200
Profit of L & M = 250 + 350 = 600
Required percentage = \(\frac{1200 - 600}{600}\) × 100 = 100%
So , Statement I is correct.
II. The ratio of combined profit of N and P to the combined cost price of K and M is 2 : 1.
Profit of N & P : Cost price of K & M
(200+300) : ( 550 + 450)
500 : 1000
1 : 2
So , Statement II is not correct.
Ans : - Only I