CAT Exam  >  CAT Questions  >  One trader calculates the percentage of profi... Start Learning for Free
One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each?
Verified Answer
One trader calculates the percentage of profit on the buying price and...
Let's call the selling price of each trader X.
The first trader calculates the profit on the buying price, so his actual profit is X * 20/100 = X/5.
The second trader calculates the profit on the selling price, so his actual profit is X - X * 80/100 = X/5.
The difference between their actual profits is X/5 - X/5 = Rs.85.
If we solve this equation, we get X = Rs.1700.
The selling price of each trader is Rs.1700, so the answer is 1700.
This question is part of UPSC exam. View all CAT courses
Explore Courses for CAT exam

Similar CAT Doubts

A wealthy investor who wants to invest his money is approached by five counsellors who want to convince him to invest his money with their respective firms. Having very little knowledge of finance, the investor decides to just invest a certain sum of money with each one of them and judge for himself. He withdraws a total sum of 100000 from his bank account and gives different amounts of money to the five counsellors and gets a total profit of 22950 in return. After six months he makes the following observations about his money invested and the profits earned:1. The highest investment has given him the third lowest profit percentage.2. The least investment is two thousand less than half the highest investment.3. The second highest investment is twice the second lowest investment.4. The profit on the highest investment is 1/5 times the investment and the profit on the least investment is 50%.5. Three sums of his investments are in AP with 1000 as the common difference and all his investments are more than 10000.6. The profit percentage of the second lowest investment and the percentage share of the highest investment in total investment are the same.7. The least profit percent is 9% and the second lowest profit percentage is 2.5 percentage points less than the third lowest profit percentage.8. The second highest profit percent is 30%. Q. Which two of the following investments should he exchange to maximise his profits the most (if the percentage profits for a particular investment delivered remains the sam e)?

One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each?
Question Description
One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each?.
Solutions for One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each? in English & in Hindi are available as part of our courses for CAT. Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.
Here you can find the meaning of One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each? defined & explained in the simplest way possible. Besides giving the explanation of One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each?, a detailed solution for One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each? has been provided alongside types of One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each? theory, EduRev gives you an ample number of questions to practice One trader calculates the percentage of profit on the buying price and another calculates on the selling price. When their selling prices are the same, then the difference of their actual profits is Rs.85 and both claim to have made 20% profit. What is the selling price of each? tests, examples and also practice CAT tests.
Explore Courses for CAT exam

Top Courses for CAT

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev