Exercise :: Profit and Loss  Data Sufficiency 3
Each of the questions given below consists of a question followed by three statements. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question.
1. 


Answer: Option A Explanation: I. Let the list price be Rs. x.
II. When S.P. = Rs. x and gain = 20%.
Thus, I and II only give the answer. Correct answer is (A). 
2. 


Answer: Option E Explanation: I. S.P. = Rs. 12350, Gain = 23.5%
II. M.P. = 130% of C.P. = 130% of Rs. 10,000 = Rs. 13,000. From I and II, discount = Rs. (13000  12350) = Rs. 650.
Thus, I and II give the answer. II and III can not give the answer. Because we require profit percentage with discount and profit percentage without discount. So II and III are not sufficient. Since III gives C.P. = Rs. 10,000, I and III give the answer. Therefore, I and II [or] I and III give the answer. Correct answer is (E). 