CAT 1994 — QA Question 30
Answer the next 3 questions based on the information given below:
Alphonso, on his death bed, keeps half his property for his wife and divide the rest equally among his three sons Ben, Carl and Dave. Some years later Ben dies leaving half his property to his widow and half to his brothers Carl and Dave together, shared equally. When Carl makes his will he keeps half his property for his widow and the rest he bequeaths to his younger brother Dave. When Dave dies some years later, he keeps half his property for his widow and the remaining for his mother. The mother now has Rs. 1,575,000.
A dealer offers a cash discount of 20% and still makes a profit of 20%, when he further allows 16 articles to a dozen to a particularly sticky bargainer. How much percent above the cost price were his wares listed?
Answer & solution
100%
- B
80%
- C
75%
- D
66 2/3%
16 articles sold at priced 12 articles, is equivalent to discount of 25%
Hence, shop keepers offer two discounts of 20% and 25% respectively and still makes a profit of 20%
If c is the cost price of an article and m is the marked price, then 1.2 × c = m ×
⇒ m = 2c.
This means that he had marked his goods 100% above his cost price.