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Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?
- a)62% less
- b)58% less
- c)58% more
- d)62% more
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Nil bought articles at a price which was 20% more than the marked pric...
Let the number of articles be x units.
Let the marked price of an article be Rs. 100.
Then,
The cost price for Nil = 120x rupees
As he makes 10% profit, effective selling price of all articles =1.1 x 120x = 132x
The selling price for 10% articles would be 9x.
The selling price for 25% articles would be 30x.
The selling price for 15% articles would be 12x.
So, he sold remaining (50% articles) x/2 articles for 132x - (9x + 30x+ 12x) = 81x
SP of each of the x/2 articles = 81x/(x/2) = 162
i.e., selling price is 62% more with respect to the marked price.
Hence, option 4.
Let the marked price of an article be Rs. 100.
Then,
The cost price for Nil = 120x rupees
As he makes 10% profit, effective selling price of all articles =1.1 x 120x = 132x
The selling price for 10% articles would be 9x.
The selling price for 25% articles would be 30x.
The selling price for 15% articles would be 12x.
So, he sold remaining (50% articles) x/2 articles for 132x - (9x + 30x+ 12x) = 81x
SP of each of the x/2 articles = 81x/(x/2) = 162
i.e., selling price is 62% more with respect to the marked price.
Hence, option 4.
Most Upvoted Answer
Nil bought articles at a price which was 20% more than the marked pric...
Given information:
- Nil bought articles at a price which was 20% more than the marked price.
- Nil sold 10% of the articles at a price which is less by 10% of the marked price.
- Nil sold 25% of the articles at a price which is more by 20% of the marked price.
- Nil sold 15% of the articles at a price which is less by 20% of the marked price.
- Nil makes a 10% profit by selling all the articles he bought.
To solve this problem, we can assume a base value for the marked price of the articles, say 100.
1. Cost Price of the Articles:
The cost price of the articles bought by Nil is 20% more than the marked price. Therefore, the cost price = 100 + 20% of 100 = 100 + 20 = 120.
2. Selling Price of the Articles:
a) Selling Price of 10% of the articles:
Nil sold 10% of the articles at a price which is less by 10% of the marked price. Therefore, the selling price = 100 - 10% of 100 = 100 - 10 = 90.
b) Selling Price of 25% of the articles:
Nil sold 25% of the articles at a price which is more by 20% of the marked price. Therefore, the selling price = 100 + 20% of 100 = 100 + 20 = 120.
c) Selling Price of 15% of the articles:
Nil sold 15% of the articles at a price which is less by 20% of the marked price. Therefore, the selling price = 100 - 20% of 100 = 100 - 20 = 80.
3. Profit Percentage:
Nil makes a 10% profit by selling all the articles. Let's calculate the profit percentage using the formula:
Profit Percentage = (Profit / Cost Price) * 100
Profit = Selling Price - Cost Price
Profit = (10% of 90 + 25% of 120 + 15% of 80) - 120
Profit = (9 + 30 + 12) - 120
Profit = 51 - 120
Profit = -69
Profit Percentage = (-69 / 120) * 100
Profit Percentage ≈ -57.5%
Since the profit percentage is negative (-57.5%), it indicates a loss. But the given information states that Nil makes a 10% profit by selling all the articles. This means there is an error in the calculation.
Correct Calculation:
Profit = Selling Price - Cost Price
Profit = (10% of 90 + 25% of 120 + 15% of 80) - 120
Profit = (9 + 30 + 12) - 120
Profit = 51 - 120
Profit = -69
To achieve a 10% profit, the selling price needs to be 10% more than the cost price. Therefore, the correct calculation should be:
Profit = (10% of Cost Price) - Cost Price
-69 = (10% of Cost Price) - 120
-69 + 120 = 10% of Cost Price
51 = 10% of Cost Price
510 = Cost Price
Now, let
- Nil bought articles at a price which was 20% more than the marked price.
- Nil sold 10% of the articles at a price which is less by 10% of the marked price.
- Nil sold 25% of the articles at a price which is more by 20% of the marked price.
- Nil sold 15% of the articles at a price which is less by 20% of the marked price.
- Nil makes a 10% profit by selling all the articles he bought.
To solve this problem, we can assume a base value for the marked price of the articles, say 100.
1. Cost Price of the Articles:
The cost price of the articles bought by Nil is 20% more than the marked price. Therefore, the cost price = 100 + 20% of 100 = 100 + 20 = 120.
2. Selling Price of the Articles:
a) Selling Price of 10% of the articles:
Nil sold 10% of the articles at a price which is less by 10% of the marked price. Therefore, the selling price = 100 - 10% of 100 = 100 - 10 = 90.
b) Selling Price of 25% of the articles:
Nil sold 25% of the articles at a price which is more by 20% of the marked price. Therefore, the selling price = 100 + 20% of 100 = 100 + 20 = 120.
c) Selling Price of 15% of the articles:
Nil sold 15% of the articles at a price which is less by 20% of the marked price. Therefore, the selling price = 100 - 20% of 100 = 100 - 20 = 80.
3. Profit Percentage:
Nil makes a 10% profit by selling all the articles. Let's calculate the profit percentage using the formula:
Profit Percentage = (Profit / Cost Price) * 100
Profit = Selling Price - Cost Price
Profit = (10% of 90 + 25% of 120 + 15% of 80) - 120
Profit = (9 + 30 + 12) - 120
Profit = 51 - 120
Profit = -69
Profit Percentage = (-69 / 120) * 100
Profit Percentage ≈ -57.5%
Since the profit percentage is negative (-57.5%), it indicates a loss. But the given information states that Nil makes a 10% profit by selling all the articles. This means there is an error in the calculation.
Correct Calculation:
Profit = Selling Price - Cost Price
Profit = (10% of 90 + 25% of 120 + 15% of 80) - 120
Profit = (9 + 30 + 12) - 120
Profit = 51 - 120
Profit = -69
To achieve a 10% profit, the selling price needs to be 10% more than the cost price. Therefore, the correct calculation should be:
Profit = (10% of Cost Price) - Cost Price
-69 = (10% of Cost Price) - 120
-69 + 120 = 10% of Cost Price
51 = 10% of Cost Price
510 = Cost Price
Now, let
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Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. Can you explain this answer?
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Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. 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 Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. Can you explain this answer?.
Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. 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 Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. Can you explain this answer?.
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Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Nil bought articles at a price which was 20% more than the marked price. He then sold 10% of the articles at a price which is less by 10% of marked price, 25% of the articles at a price which is more by 20% of the marked price and 15% of the articles at a price which is less by 20% of the marked price. If he makes a 10% profit by selling all the articles he bought, then which of the following is true about the selling price of the remaining articles with respect to the marked price?a)62% lessb)58% lessc)58% mored)62% moreCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice CAT tests.
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