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In each question, you are given certain data followed by two statements. For answering the questions:

Mark a, if both the statements together are insufficient to answer the question.

Mark b, if any one of the two statements is sufficient to answer the question.

Mark c, if each statement alone is sufficient to answer the question.

Mark d, if both the statements together are sufficient to answer the question, but neither statement alone is sufficient.

What is the Cost Price of the article?

1. After selling the article, a loss of $25$% on Cost Price incurred.

2. The Selling Price is three-fourths of the Cost Price.

1. if both the statements together are insufficient to answer the question.
2. if any one of the two statements is sufficient to answer the question.
3. if each statement alone is sufficient to answer the question.
4. if both the statements together are sufficient to answer the question, but neither statement alone is sufficient.

Selling Price = Cost Price + Profit

or Selling Price = Cost Price – Loss

1 : “After selling the article, a loss of 25% on Cost Price incurred.”

SP = CP – 25 % of CP = CP – 0.25 * CP =>  SP = 0.75 * CP

2 : “The Selling Price is three-fourths of the Cost Price.”

SP = ¾ * CP => SP = 0.75 * CP

Equations from both the statements are the same. You need two different linear equations with the same variables to find a solution.

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