Each of the following questions below consists of a question and two statements numbered I and Il given. You have to decide whether the data provided in the statements is sufficient to answer the questions. Give answer
Find the cost price of article by shopkeeper on selling the article at Rs. 240 ?
I. If the article sold at 25% more the profit earned will be Rs. 40.
II. Marked price of article is Rs. 400 and profit% is equal to discount% and profit% is 40%.

Options

A. If the data given in statement I alone is sufficient to answer the question while the data in statement II alone is not sufficient to answer the question.
B. If the data given in statement ll alone is sufficient to answer the question while the data in statement I alone is not sufficient to answer the question.
C. If the data either in statement I alone or in statement II alone is sufficient to answer the question.
D. If the data in neither statement I nor II is sufficient to answer the question.

Answer

To find the cost price (CP) of the article sold by the shopkeeper at Rs. 240, we will analyze the two statements provided.

### Step 1: Analyze Statement I
Statement I states that if the article is sold at 25% more than the selling price of Rs. 240, then the profit earned will be Rs. 40.

1. **Calculate the selling price at 25% more:**
- Selling Price (SP) = Rs. 240
- 25% of SP = 25/100 * 240 = Rs. 60
- New Selling Price = SP + 25% of SP = 240 + 60 = Rs. 300

2. **Use the profit to find the cost price:**
- Profit = Selling Price - Cost Price
- Given Profit = Rs. 40
- Therefore, Cost Price (CP) = Selling Price - Profit = 300 - 40 = Rs. 260

Thus, from Statement I alone, we can determine that the cost price of the article is Rs. 260.

### Step 2: Analyze Statement II
Statement II states that the marked price of the article is Rs. 400, the profit percentage is equal to the discount percentage, and the profit percentage is 40%.

1. **Calculate the selling price using profit percentage:**
- Profit Percentage = 40%
- Selling Price (SP) = CP + (Profit Percentage of CP)
- Thus, SP = CP + (40/100 * CP) = CP * (1 + 0.40) = CP * 1.40

2. **Set the equation with the given selling price:**
- We know SP = Rs. 240
- Therefore, 1.40 * CP = 240
- To find CP, we rearrange: CP = 240 / 1.40 = Rs. 171.43 (approximately)

From Statement II alone, we can also determine the cost price of the article.

### Conclusion
Both statements I and II are sufficient to answer the question independently. Therefore, the answer is that either statement alone is sufficient to determine the cost price of the article.

### Final Answer
The answer is option 3: Each statement alone is sufficient to answer the question.

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