TheCATExam
Sign in

CAT 2017 Slot 1 — QA Question 11

Profit & LossEasy

In a market, the price of medium quality mangoes is half that of good mangoes. A shopkeeper buys 80 kg good mangoes and 40 kg medium quality mangoes from the market and then sells all these at a common price which is 10% less than the price at which he bought the good ones. His overall profit is:

Answer & solution

Correct answer: 8%

  • A

    6%

  • 8%

  • C

    10%

  • D

    12%

Solution

Easy

Let a good mango cost gg; a medium one costs g2\tfrac g2. Find total cost, then the common selling price (10%10\% below the good-mango price) applied to all 120120 kg, and compare.

1

Total cost price. 8080 kg good at gg, 4040 kg medium at g2\tfrac g2.

CP=80g+40⋅g2⇒ =80g+20g=100g\begin{aligned} &\text{CP} = 80g + 40\cdot\frac{g}{2}\\ &\Rightarrow\ = 80g + 20g = 100g \end{aligned}
2

Common selling price. 10%10\% below the good price, i.e. 0.9g0.9g per kg, over all 120120 kg.

SP=120×0.9g⇒ =108g\begin{aligned} &\text{SP} = 120\times 0.9g\\ &\Rightarrow\ = 108g \end{aligned}
3

Overall profit. Compare SP with CP.

108g−100g100g×100%=8g100g×100%⇒ 8%\begin{aligned} &\frac{108g - 100g}{100g}\times 100\% = \frac{8g}{100g}\times 100\%\\ &\Rightarrow\ 8\% \end{aligned}
8%8\%

Related Profit & Loss questions

See all Profit & Loss questions →
CAT 2017 Slot 1 QA Q11: In a market, the price of medium quality mangoes is half that of good mangoes. A shopkeeper buys 80 kg good ma — Solution | TheCATExam