CAT 2019 Question Paper | Quants Slot 2

CAT Questions

Profit and Loss questions almost always test you on the topics of either Percentages or Ratio and Proportions as well. All these topics fall under the Arithmetic part of the Quantitative Ability section and hence require you to go through them with the utmost sincerity. These questions can easily make or break your CAT score in the CAT exam as around 50 percent of the questions in this section come from the Arithmetic part. Do not wait to finish the entire CAT Syllabus before involving yourself in solving CAT previous year paper questions, that'll help you ace your CAT preparation online. Dive right in!

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

1. 1
2. 1.2
3. 0.7
4. 0.50

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Video Explanation

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Explanatory Answer

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 looses 20% on the transaction with Asim
So, Asim buys the table at '0.8p'
Asim sells athe 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.

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The question is " 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 "

Hence, the answer is 1

Choice A is the correct answer.