Question : 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 statements 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 the combined profit of N and P to the combined cost price of K and M is 2 : 1.
Option 1: Only II
Option 2: Only I
Option 3: Both I and II
Option 4: Neither I nor II
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Correct Answer: Only I
Solution :
I. Combined cost price of J and K = 650 + 550= 1200
Combined profit of L and M = 250 + 350 = 600
Required percent = $\frac{(1200-600)}{600}\times 100$ = 100%
II. Combined profit of N and P = 200 + 300 = 500
Combined cost price of K and M = 550 + 450 = 1000
Required ratio = 1 : 2
Hence, the correct answer is Only I.
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