CAT 2025 Slot 1 · Quant · Question 16
CAT 2025 Slot 1 previous year question on Profit and Loss, with the answer and a step-by-step solution.
A shopkeeper offers a discount of 22% on the marked price of each chair, and gives 13 chairs to a customer for the discounted price of 12 chairs to earn a profit of 26% on the transaction. If the cost price of each chair is ₹100, then the marked price, in ₹, of each chair is
Answer & solution
Answer: 175
Price the whole transaction, since 13 chairs leave the shop but only 12 are charged for.
Cost to the shopkeeper: 13\times 100=1300.
A 26\% profit means the money received is 1.26\times 1300=1638.
Let the marked price be M. After a 22\% discount each chair sells at 0.78M, and the customer pays for 12 of them:
12\times 0.78M=9.36M=1638.
So M=\frac{1638}{9.36}=175, that is ₹175.
The profit is on the transaction as a whole, not per chair sold.
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