Given below are two statements:
Statement I: If an article is sold at a gain of 19%, then selling price is 109% of cost price.
Statement II: If an article is sold at a loss of 9%, then selling price is 109% of cost price.
In the light of the above statements, choose the most appropriate answer from the options given below:
1
Both Statement I and Statement II are correct
2
Both Statement I and Statement II are incorrect
3
Statement I is correct but Statement II is incorrect
4
Statement I is incorrect but Statement II is correct