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In each of the following questions you h...

In each of the following questions you have to find out which of the following statements is/are sufficient to answer the given questions. Give appropriate answers according to the options.
A shopkeeper gained how much by selling his products in November 2016?
He earned `40%` more profit in December 2016 as compared to October 2016.
In December 2016 he earned `10%` more profit than in November 2016.
The total profit earned in November 2016. and October 2016 was ₹55,000.

A

Only I and III

B

Only II and III

C

Only I and II

D

All I,II and III.

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we need to analyze the statements given and derive the necessary information to find out the profit earned by the shopkeeper in November 2016. ### Step 1: Define Variables Let: - Profit in October 2016 = \( X \) - Profit in November 2016 = \( Y \) - Profit in December 2016 = \( Z \) ### Step 2: Analyze the Statements 1. **From Statement 1**: "He earned 40% more profit in December 2016 as compared to October 2016." - This means: \[ Z = X + 0.4X = 1.4X \] 2. **From Statement 2**: "In December 2016 he earned 10% more profit than in November 2016." - This means: \[ Z = Y + 0.1Y = 1.1Y \] 3. **From Statement 3**: "The total profit earned in November 2016 and October 2016 was ₹55,000." - This means: \[ X + Y = 55,000 \] ### Step 3: Set Up Equations From the first two statements, we have two equations: 1. \( Z = 1.4X \) 2. \( Z = 1.1Y \) Since both equations equal \( Z \), we can set them equal to each other: \[ 1.4X = 1.1Y \] ### Step 4: Solve for One Variable From the equation \( 1.4X = 1.1Y \), we can express \( Y \) in terms of \( X \): \[ Y = \frac{1.4X}{1.1} = \frac{14X}{11} \] ### Step 5: Substitute into the Total Profit Equation Now substitute \( Y \) in the total profit equation: \[ X + \frac{14X}{11} = 55,000 \] To combine the terms, we can find a common denominator: \[ \frac{11X + 14X}{11} = 55,000 \] \[ \frac{25X}{11} = 55,000 \] ### Step 6: Solve for \( X \) Multiply both sides by 11: \[ 25X = 55,000 \times 11 \] \[ 25X = 605,000 \] \[ X = \frac{605,000}{25} = 24,200 \] ### Step 7: Find \( Y \) Now substitute \( X \) back to find \( Y \): \[ Y = 55,000 - X = 55,000 - 24,200 = 30,800 \] ### Step 8: Find \( Z \) Now, use either equation for \( Z \): \[ Z = 1.4X = 1.4 \times 24,200 = 33,880 \] ### Conclusion The profit earned by the shopkeeper in November 2016 is **₹30,800**.
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