Question

A shopkeeper sells some articles at a profit of $20\%$ on the cost price. Find the amount of profit.
I. Cost price of the article is Rs. $2400$.
II. Selling price of the article is Rs. $480$ more than the cost price. 

• A. I alone sufficient; II alone not.
• B. II alone sufficient; I alone not.
• C. Either I alone or II alone sufficient.
• D. Even I + II together not sufficient.
• E. I + II together necessary.

Hint:

If the required value is directly computable from a single statement, mark “either” only when each statement independently suffices.

Answer 1

The Correct Option is C

I: Profit $=20\%\text{ of }2400= \text{Rs. }480$ (sufficient).
II: Profit is directly given as Rs. $480$ (sufficient).
Hence either statement suffices. 

Answer 2

Profit amount is defined as \( SP-CP \). Examine what each statement directly provides for this quantity.

1. Option A (I alone sufficient, II not): Statement I gives \( CP=\text{Rs. }2400 \). Using the \( 20\% \) profit rate from the stem, profit \( =0.2\times2400=\text{Rs. }480 \), sufficient by itself. But II must also be checked before concluding it fails.
2. Option B (II alone sufficient, I not): Statement II states \( SP-CP=\text{Rs. }480 \). Since profit amount is precisely \( SP-CP \) by definition, this statement hands over the profit value directly, with no need for the \( 20\% \) rate or the cost price at all, sufficient by itself. So I must also be checked before concluding it fails.
3. Option C (either alone sufficient): As shown, Statement I computes the profit using the rate and cost price, while Statement II states the profit amount outright as \( SP-CP \); both independently yield \( \text{Rs. }480 \). This matches.
4. Option D (even together not sufficient): Since each statement alone already gives the answer, this option is false.
5. Option E (I + II together necessary): This is unnecessary, since either statement alone is enough; rejected.

Recognizing that Statement II's given difference is literally the definition of profit amount, independent of the percentage rate, confirms both statements work individually.

Hence, the correct answer is If either I alone or II alone is sufficient.