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CAT Previous Year Paper | CAT Profit and Loss Questions | Question 12

Profit and loss is a heavily tested topic in CAT. CAT EXAM is known to test on basics rather than the high funda ideas. When some toys are destroyed, how can the merchant make a profit even after giving a discount on the remaining good?

Question 12 : If Fatima sells 60 identical toys at a 40% discount on the printed price, then she makes 20% profit. Ten of these toys are destroyed in fire. While selling the rest, how much discount should be given on the printed price so that she can make the same amount of profit?

1. 30%
2. 25%
3. 24%
4. 28%

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Method of solving this CAT Question from Profit and Loss

Given that if Fatima sells 60 identical toys at a 40% discount on the printed price, then she makes 20% profit. Ten of these toys are destroyed in fire.
If she needs to make the same amount of profit by selling the remaining toys, she needs to sell them at,
⟹ 60 × 0.6x = 50 × ?
⟹ 3.6x = 5 × ?
⟹ ? = 0.72x or she sells at 72% of the printed price.
Therefore the discount to be given = 100 – 72 = 28%

The question is "If Fatima sells 60 identical toys at a 40% discount on the printed price, then she makes 20% profit. Ten of these toys are destroyed in fire. While selling the rest, how much discount should be given on the printed price so that she can make the same amount of profit?"

Choice D is the correct answer.

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