CAT 2024 Slot 3 · Quant · Question 12
CAT 2024 Slot 3 previous year question on Profit and Loss, with the answer and a step-by-step solution.
- A25
- B10
- C15
- D20
Answer & solution
Answer: Option B
The saving of ₹15 is the discount itself, and the discount is 10% of the marked price.
So 0.1\times \text{MP}=15, giving a marked price of ₹150.
The marked price was set to yield 20% profit, so \text{MP}=1.2\times \text{CP}.
Therefore the cost price is \frac{150}{1.2}=125, that is ₹125.
Ravi actually pays 150-15=135, so the selling price is ₹135.
Gopi's profit is 135-125=10, that is ₹10 — the second option.
Shortcut. Work in parts: let the cost price be 100 parts, so the marked price is 120 parts and the 10% discount is 12 parts. Since 12 parts equal ₹15, one part is ₹1.25. The selling price is 120-12=108 parts, so the profit is 8 parts, that is 8\times 1.25=10.
More Profit and Loss questions
- Q3Amal purchases some pens at ₹8 each. To sell these, he hires an employee at a fixed wage. He sells 100 of these pens…CAT 2021 Slot 1 · Quant · Profit and Loss
- Q18Raj invested ₹10000 in a fund. At the end of first year, he incurred a loss but his balance was more than ₹5000. This…CAT 2021 Slot 2 · Quant · Profit and Loss
- Q16A shopkeeper offers a discount of 22% on the marked price of each chair, and gives 13 chairs to a customer for the…CAT 2025 Slot 1 · Quant · Profit and Loss
- Q15An item with a cost price of ₹1650 is sold at a certain discount on a fixed marked price to earn a profit of 20% on…CAT 2025 Slot 2 · Quant · Profit and Loss
- Q5The monthly sales of a product from January to April were 120, 135, 150 and 165 units, respectively. The cost price of…CAT 2025 Slot 3 · Quant · Profit and Loss
- Q21The selling price of a product is fixed to ensure 40% profit. If the product had cost 40% less and had been sold for 5…CAT 2024 Slot 1 · Quant · Profit and Loss
Take this paper as a timed test
Real exam timing, instant score, rank and topic-wise analysis.