CAT 2019 Slot 2 — QA Question 33
A shopkeeper sells two tables, each procured at cost price p, to Amal and Asim at a profit of 20% and at a loss of 20%, respectively. Amal sells his table to Bimal at a profit of 30%, while Asim sells his table to Barun at a loss of 30%. If the amounts paid by Bimal and Barun are x and y, respectively, then (x - y) / p equals
Answer & solution
1
- B
1.2
- C
0.7
- D
0.5
The Shopkeeper procures the table at price 'p'
He gains 20% on the transaction with Amal
So, Amal buys the table at '1.2p'
Amal sells athe table at 30% profit,
So, the Selling Price of Amal = 1.3 × 1.2p = 1.56p
⇒ x = 1.56p
The Shopkeeper loses 20% on the transaction with Asim
So, Asim buys the table at '0.8p'
Asim sells the table at 30% loss,
So, the Selling Price of Asim = 0.7 * 0.8p = 0.56p
⇒ y = 0.56p
(x - y)/p = (1.56p - 0.56p)/p = 1.
Hence, option (a).