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
- A
6%
8%
- C
10%
- D
12%
Solution
Let the price of each good mango be g.
Price of each medium quality mango = g/2
Total cost price = 80g + 40(g/2) = 100g
Total selling price = 120(0.9g) = 108g
Overall profit = 8%
hence, option 2.