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A shopkeeper sells a pen to a buyer at a loss of 12%. The same buyer sells the pen to another buyer at a loss of 11 % on the new price. The new buyer then sells it at a loss of 10% and so on. The value of the loss decreases by 1 percentage point for each transaction. After how many such transactions will the price of the pen be less than 60% of its original value?
- a)3
- b)4
- c)5
- d)6
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
A shopkeeper sells a pen to a buyer at a loss of 12%. The same buyer s...
Solution: Let the initial price = Rs. X. Price after the third transaction = X x 0.88 x 0.89 x 0.9 » 0.7X > 0.6X
Price after the fourth transaction » X x 0.7 x 0.91 » 0.637X > 0.6X Price after the fifth transaction « X x 0.637 x 0.92 « 0.6X It is better to check exact value for the fifth transaction as the values above are approximate values.
Price after the fourth transaction » X x 0.7 x 0.91 » 0.637X > 0.6X Price after the fifth transaction « X x 0.637 x 0.92 « 0.6X It is better to check exact value for the fifth transaction as the values above are approximate values.
Most Upvoted Answer
A shopkeeper sells a pen to a buyer at a loss of 12%. The same buyer s...
Consider original value as 100. after 12% loss - 88
11% loss =78.32
10% loss= 70.482
9% loss = 63.43
8% loss gives less than 60. so answer is 5
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A shopkeeper sells a pen to a buyer at a loss of 12%. The same buyer s...
To solve this problem, we need to determine the number of transactions required for the price of the pen to be less than 60% of its original value. Let's break down the problem into steps:
Step 1: Find the selling price after the first transaction
Given that the shopkeeper sells the pen at a loss of 12%, the selling price after the first transaction would be 100% - 12% = 88% of the original price.
Step 2: Find the selling price after the second transaction
The second buyer buys the pen from the first buyer at a loss of 11% on the new price. Therefore, the selling price after the second transaction would be 88% - 11% = 77.92% of the original price.
Step 3: Find the selling price after the third transaction
The third buyer buys the pen from the second buyer at a loss of 10% on the new price. Therefore, the selling price after the third transaction would be 77.92% - 10% = 69.72% of the original price.
Step 4: Repeat the process until the selling price is less than 60% of the original price
To determine the number of transactions required, we need to continue the process until the selling price is less than 60% of the original price.
Let's calculate the selling price after each transaction:
- After the fourth transaction: 69.72% - 9% = 60.47% of the original price
- After the fifth transaction: 60.47% - 8% = 52.49% of the original price
Therefore, after the fifth transaction, the price of the pen will be less than 60% of its original value. Hence, the correct answer is option C) 5.
Step 1: Find the selling price after the first transaction
Given that the shopkeeper sells the pen at a loss of 12%, the selling price after the first transaction would be 100% - 12% = 88% of the original price.
Step 2: Find the selling price after the second transaction
The second buyer buys the pen from the first buyer at a loss of 11% on the new price. Therefore, the selling price after the second transaction would be 88% - 11% = 77.92% of the original price.
Step 3: Find the selling price after the third transaction
The third buyer buys the pen from the second buyer at a loss of 10% on the new price. Therefore, the selling price after the third transaction would be 77.92% - 10% = 69.72% of the original price.
Step 4: Repeat the process until the selling price is less than 60% of the original price
To determine the number of transactions required, we need to continue the process until the selling price is less than 60% of the original price.
Let's calculate the selling price after each transaction:
- After the fourth transaction: 69.72% - 9% = 60.47% of the original price
- After the fifth transaction: 60.47% - 8% = 52.49% of the original price
Therefore, after the fifth transaction, the price of the pen will be less than 60% of its original value. Hence, the correct answer is option C) 5.
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A shopkeeper sells a pen to a buyer at a loss of 12%. The same buyer sells the pen to another buyer at a loss of 11 % on the new price. The new buyer then sells it at a loss of 10% and so on. The value of the loss decreases by 1 percentage point for each transaction. After how many such transactions will the price of the pen be less than 60% of its original value?a)3b)4c)5d)6Correct answer is option 'C'. Can you explain this answer?
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A shopkeeper sells a pen to a buyer at a loss of 12%. The same buyer sells the pen to another buyer at a loss of 11 % on the new price. The new buyer then sells it at a loss of 10% and so on. The value of the loss decreases by 1 percentage point for each transaction. After how many such transactions will the price of the pen be less than 60% of its original value?a)3b)4c)5d)6Correct answer is option 'C'. 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 sells a pen to a buyer at a loss of 12%. The same buyer sells the pen to another buyer at a loss of 11 % on the new price. The new buyer then sells it at a loss of 10% and so on. The value of the loss decreases by 1 percentage point for each transaction. After how many such transactions will the price of the pen be less than 60% of its original value?a)3b)4c)5d)6Correct answer is option 'C'. 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 sells a pen to a buyer at a loss of 12%. The same buyer sells the pen to another buyer at a loss of 11 % on the new price. The new buyer then sells it at a loss of 10% and so on. The value of the loss decreases by 1 percentage point for each transaction. After how many such transactions will the price of the pen be less than 60% of its original value?a)3b)4c)5d)6Correct answer is option 'C'. Can you explain this answer?.
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