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CAT 2024 Slot 2 — QA Question 14

Profit & LossEasy

Bina incurs 19% loss when she sells a product at Rs. 4860 to Shyam, who in turn sells this product to Hari. If Bina would have sold this product to Shyam at the purchase price of Hari, she would have obtained 17% profit. Then, the profit, in rupees, made by Shyam is

Answer & solution

Answer: 2160

Solution

Easy

Find Bina's cost from her 19% loss sale. Hari's purchase price equals the price at which Bina would have made 17% profit. Shyam buys at Rs 4860 and sells to Hari at that price; the difference is Shyam's profit.

1

Bina's cost price. Selling at Rs 4860 is a 19% loss, so 4860=0.81×CP4860=0.81\times\text{CP}.

CP=48600.81=6000\begin{aligned} &\text{CP}=\frac{4860}{0.81}=6000 \end{aligned}
2

Hari's purchase price. This equals what Bina would charge at 17% profit on her cost.

Hari’s price=1.17×6000=7020\begin{aligned} &\text{Hari's price}=1.17\times 6000=7020 \end{aligned}
3

Shyam's profit. Shyam bought at Rs 4860 and sold to Hari at Rs 7020.

Profit=7020−4860=2160\begin{aligned} &\text{Profit}=7020-4860=2160 \end{aligned}
Shyam’s profit=Rs 2160\text{Shyam's profit}=\text{Rs }2160
CAT 2024 Slot 2 QA Q14: Bina incurs 19% loss when she sells a product at Rs. 4860 to Shyam, who in turn sells this product to Hari. If — Solution | TheCATExam