Profit and Loss falls under the Arithmetic part of the Quantitative Ability section of the CAT exam. As we've seen in 2IIM's CAT Blueprint, Arithmetic makes up around 50 percent of the questions in this section which is absolutely a HUGE chunk! The topics in Arithmetic are simple to understand and grasp, however the questions in your CAT Question Paper can be very tricky! Hence, you need to put sincere efforts in this part to be able to master these topics and increase your CAT score tremendously! Start with CAT previous year paper to understand what questions you can expect in the upcoming CAT Exam. Dive right in with this beautiful question from Profit and Loss taken from CAT 2019 Question Paper Slot 2.
Question 27 : Mukesh purchased 10 bicycles in 2017, all at the same price. He sold six of these at a profit of 25% and the remaining four at a loss of 25%. If he made a total profit of Rs. 2000, then his purchase price of a bicycle, in Rupees, was
Let the cost price of one bicycle = Rs. x
Total cost price = Rs. 10x
He made a total profit of 25% on 6 cycles and 25% loss on 4 cycles and made a profit of Rs. 2000
So, 2000 = 6 x - 4 x
x = Rs. 4000
The question is "Mukesh purchased 10 bicycles in 2017, all at the same price. He sold six of these at a profit of 25% and the remaining four at a loss of 25%. If he made a total profit of Rs. 2000, then his purchase price of a bicycle, in Rupees, was "
Choice D is the correct answer.
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