CAT 2021 Slot 1 · Quant · Question 3
CAT 2021 Slot 1 previous year question on Profit and Loss, with the answer and a step-by-step solution.
Amal purchases some pens at ₹8 each. To sell these, he hires an employee at a fixed wage. He sells 100 of these pens at ₹12 each. If the remaining pens are sold at ₹11 each, then he makes a net profit of ₹300, while he makes a net loss of ₹300 if the remaining pens are sold at ₹9 each. The wage of the employee, in ₹, is
Answer & solution
Answer: 1000
Let n be the total number of pens and w the wage.
Profit case: 4\times 100+3\left( n-100 \right)-w=300,
that is 3n-w=200.
Loss case: 4\times 100+1\times \left( n-100 \right)-w=-300,
that is n-w=-600.
Subtracting, 2n=800, so n=400 and w=1000.
The wage is ₹1000.
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