CAT 2024 Slot 2 · Quant · Question 7
CAT 2024 Slot 2 previous year question on Profit and Loss, with the answer and a step-by-step solution.
Answer & solution
Answer: 2160
A 19% loss means Bina's selling price is 81% of her cost price.
So her cost price is \frac{4860}{0.81}=6000, that is ₹6000.
The hypothetical sale at 17% profit would have fetched 6000\times 1.17=7020, so Hari's purchase price is ₹7020.
Shyam bought at ₹4860 and sold to Hari at ₹7020.
His profit is 7020-4860=2160, that is ₹2160.
Shortcut. Both percentages act on the same cost price, so the gap between the two selling prices is simply \left( 117\%-81\% \right)=36\% of the cost price. That is 0.36\times 6000=2160 in one line, and the cost price itself follows from \frac{4860}{0.81}.
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