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A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.
- a)Loss of Rs. 50
- b)Profit of Rs. 550
- c)Profit of Rs.50
- d)Loss of Rs. 550
- e)Data insufficient
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
A shopkeeper buys a certain product at a certain price, marks its pric...
Solution: Let CP of the product be x.
Actual profit, P - 1.2x - 250 - x = 0.2x - 250 Also, 1.35x - 300 - x = 0.35x - 300 = 2P Solving the weo equations we get, x = 4000 So, P = Rs. 550 Hence, option 2.
Actual profit, P - 1.2x - 250 - x = 0.2x - 250 Also, 1.35x - 300 - x = 0.35x - 300 = 2P Solving the weo equations we get, x = 4000 So, P = Rs. 550 Hence, option 2.
Most Upvoted Answer
A shopkeeper buys a certain product at a certain price, marks its pric...
Solution: Let CP of the product be x.
Actual profit, P - 1.2x - 250 - x = 0.2x - 250 Also, 1.35x - 300 - x = 0.35x - 300 = 2P Solving the weo equations we get, x = 4000 So, P = Rs. 550 Hence, option 2.
Actual profit, P - 1.2x - 250 - x = 0.2x - 250 Also, 1.35x - 300 - x = 0.35x - 300 = 2P Solving the weo equations we get, x = 4000 So, P = Rs. 550 Hence, option 2.
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Community Answer
A shopkeeper buys a certain product at a certain price, marks its pric...
To solve this problem, let's assume the cost price of the product is 'C'.
Given information:
- The shopkeeper marks up the price by 20% and offers a discount of Rs. 250.
- If he marks up the price by 35% and offers a discount of Rs. 300, his profit/loss percentage would have doubled.
Calculating the selling price:
1. Marking up the price by 20%:
Selling price = Cost price + 20% of Cost price
= C + 0.2C
= 1.2C
2. Offering a discount of Rs. 250:
Selling price = 1.2C - Rs. 250
Calculating the profit/loss percentage:
Profit/loss percentage = [(Selling price - Cost price) / Cost price] * 100
Now, let's calculate the profit/loss percentage for the given scenario:
Profit/Loss percentage = [(1.2C - Rs. 250 - C) / C] * 100
= [(0.2C - Rs. 250) / C] * 100
= (0.2 - (250 / C)) * 100
Now, let's consider the second scenario where the shopkeeper marks up the price by 35% and offers a discount of Rs. 300. According to the given information, the profit/loss percentage would have doubled in this scenario.
Profit/Loss percentage in the second scenario = 2 * Profit/Loss percentage in the first scenario
[(0.2C - Rs. 300) / C] * 100 = 2 * [(0.2 - (250 / C)) * 100]
Now, let's solve this equation to find the value of C:
[(0.2C - Rs. 300) / C] * 100 = 2 * [(0.2 - (250 / C)) * 100]
Simplifying the equation:
0.2C - Rs. 300 = 2 * (0.2C - Rs. 250)
Expanding and simplifying the equation further:
0.2C - Rs. 300 = 0.4C - Rs. 500
Bringing like terms together:
0.4C - 0.2C = Rs. 500 - Rs. 300
0.2C = Rs. 200
C = Rs. 1000
Now that we have found the cost price (C) to be Rs. 1000, we can calculate the actual profit/loss by selling the product:
Actual Selling price = 1.2C - Rs. 250
= 1.2 * Rs. 1000 - Rs. 250
= Rs. 1200 - Rs. 250
= Rs. 950
Profit/loss = Selling price - Cost price
= Rs. 950 - Rs. 1000
= -Rs. 50
Therefore, the actual profit/loss by selling the product is a Loss of Rs. 50. Hence, option (a) is the correct answer.
Given information:
- The shopkeeper marks up the price by 20% and offers a discount of Rs. 250.
- If he marks up the price by 35% and offers a discount of Rs. 300, his profit/loss percentage would have doubled.
Calculating the selling price:
1. Marking up the price by 20%:
Selling price = Cost price + 20% of Cost price
= C + 0.2C
= 1.2C
2. Offering a discount of Rs. 250:
Selling price = 1.2C - Rs. 250
Calculating the profit/loss percentage:
Profit/loss percentage = [(Selling price - Cost price) / Cost price] * 100
Now, let's calculate the profit/loss percentage for the given scenario:
Profit/Loss percentage = [(1.2C - Rs. 250 - C) / C] * 100
= [(0.2C - Rs. 250) / C] * 100
= (0.2 - (250 / C)) * 100
Now, let's consider the second scenario where the shopkeeper marks up the price by 35% and offers a discount of Rs. 300. According to the given information, the profit/loss percentage would have doubled in this scenario.
Profit/Loss percentage in the second scenario = 2 * Profit/Loss percentage in the first scenario
[(0.2C - Rs. 300) / C] * 100 = 2 * [(0.2 - (250 / C)) * 100]
Now, let's solve this equation to find the value of C:
[(0.2C - Rs. 300) / C] * 100 = 2 * [(0.2 - (250 / C)) * 100]
Simplifying the equation:
0.2C - Rs. 300 = 2 * (0.2C - Rs. 250)
Expanding and simplifying the equation further:
0.2C - Rs. 300 = 0.4C - Rs. 500
Bringing like terms together:
0.4C - 0.2C = Rs. 500 - Rs. 300
0.2C = Rs. 200
C = Rs. 1000
Now that we have found the cost price (C) to be Rs. 1000, we can calculate the actual profit/loss by selling the product:
Actual Selling price = 1.2C - Rs. 250
= 1.2 * Rs. 1000 - Rs. 250
= Rs. 1200 - Rs. 250
= Rs. 950
Profit/loss = Selling price - Cost price
= Rs. 950 - Rs. 1000
= -Rs. 50
Therefore, the actual profit/loss by selling the product is a Loss of Rs. 50. Hence, option (a) is the correct answer.
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A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer?
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A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer?.
A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer?.
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A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of A shopkeeper buys a certain product at a certain price, marks its price up by 20% and offers Rs. 250 discount over that product. Had he marked up the cost price by 35% and offered a discount of Rs. 300 over it then his profit/Loss percentage would have been doubled. Find the actual profit/ Loss(in Rs.) by selling the product.a)Loss of Rs. 50b)Profit of Rs. 550c)Profit of Rs.50d)Loss of Rs. 550e)Data insufficientCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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