CAT 2017 Question Paper | Quants Slot 2

CAT Previous Year Paper | CAT Profit and Loss Questions | Question 7

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Question 7 : The manufacturer of a table sells it to a wholesale dealer at a profit of 10%. The wholesale dealer sells the table to a retailer at a profit of 30%. Finally, the retailer sells it to a customer at a profit of 50%. If the customer pays Rs 4290 for the table, then its manufacturing cost (in Rs) is

  1. 1500
  2. 2000
  3. 2500
  4. 3000

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Explanatory Answer

Method of solving this CAT Question from Profit and Loss

Given that the manufacturer of a table sells it to the whole sale dealer at a profit of 10%
CAT 2017 Question Paper Quants Slot 2 Profit and Loss
Then the whole sale dealer sells to a retailer at a profit of 30%
CAT 2017 Question Paper Quants Slot 2 Profit and Loss
The retailer sells to a customer at a profit of 50%
CAT 2017 Question Paper Quants Slot 2 Profit and Loss
If the customer pays Rs.4290 for the table then 1.1 × 1.3 × 1.5X = 4290
⟹ \\frac{11}{10}) × \\frac{13}{10}) × \\frac{3}{2})X = 4290
⟹ X = 4290 × \\frac{10}{11}) × \\frac{10}{13}) × \\frac{2}{3})
X(Manufacturing cost) = Rs. 2000

The question is "The manufacturer of a table sells it to a wholesale dealer at a profit of 10%. The wholesale dealer sells the table to a retailer at a profit of 30%. Finally, the retailer sells it to a customer at a profit of 50%. If the customer pays Rs 4290 for the table, then its manufacturing cost (in Rs) is"

Hence, the answer is 2000

Choice B is the correct answer

 

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