What can be said regarding the following two statements?
Statement 1: Profitable Ltd. has the lowest share in MP market.
Statement 2: Honest Ltd.’s total revenue is more than Profitable Ltd.
Explanation:
Truthful Ltd. has the highest market share in MP.
Thus Truthful Ltd. could be Firm A or Firm C.
Aggregate revenues of Firms A, B, C and D are 190, 217, 222 and 185 (in million rupees) respectively.
Thus, Aggressive Ltd. and Honest Ltd. could be A and D or B and C in some order.
Case 1: Truthful Ltd. = A
Aggressive Ltd. and Honest Ltd. = B and C
Profitable Ltd. = D
Case 2: Truthful Ltd. = C
Aggressive Ltd. and Honest Ltd. = A and D
Profitable Ltd. = B
If statement 1 is true, then Firm B is profitable Ltd., which means that Honest Ltd. is Firm A or D.
But, the total revenue of Firms A and D each is lesser than that of firm B.
Thus, if statement 1 is true, statement 2 is necessarily false.
Hence, option (b).
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