Profit and Loss Question 1 - CAT 2024
Bina incurs a 19% loss when she sells a product at Rs. 4860 to Shyam, who in turn sells this product to Hari. If Bina had sold this product to Shyam at the purchase price of Hari, she would have obtained a 17% profit. Then, the profit, in rupees, made by Shyam is:
Step-by-Step Explanation
- Find Bina's Cost Price (CP):
Bina sells the product at a 19% loss for Rs. 4860.
Bina's SP = 0.81 × Bina's CP
4860 = 0.81 × Bina's CP
Bina's CP = 4860 / 0.81 = Rs. 6000
- Find Hari's Purchase Price:
If Bina had sold the product at Hari's purchase price, she would have made a 17% profit on her cost price.
Hari's Purchase Price = 1.17 × 6000 = Rs. 7020
- Calculate Shyam's Profit:
Shyam bought the product from Bina for Rs. 4860 and sold it to Hari at Hari's purchase price (Rs. 7020).
Shyam's Profit = 7020 − 4860 = Rs. 2160
Correct Answer: 2160
💡 FundaMakers Tip:
In multi-person transaction chains, identify the common link. Here, "Hari's purchase price" is identical to "Shyam's selling price". By decoding the hypothetical scenario related to Bina's CP, you instantly unlock Shyam's selling price without needing to calculate Shyam's profit percentage directly.