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Question No. 6 A shopkeeper gives a discount of 16% on the marked price of a product and still gains 20% on the investment by selling a product. However, if customer returns the p he charges y% on the selling price to the customer and still does not lose his profit. What is the value of y? (Round off the answer upto two decimal places).?
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Question No. 6 A shopkeeper gives a discount of 16% on the marked pric...
Calculation of Marked Price and Selling Price:
Let's assume the cost price of the product is Rs. 100.

Gaining 20% on the investment:
Since the shopkeeper gains 20% on the investment, this means he sells the product at a price that is 20% more than the cost price.
Selling Price = Cost Price + 20% of Cost Price = Rs. 100 + (20/100) * 100 = Rs. 120

Discount of 16% on the Marked Price:
Let the marked price of the product be Rs. M.

After applying a discount of 16% on the marked price, the selling price becomes Rs. 120.
So, 100% - 16% = 84% of the marked price = Rs. 120
(84/100) * M = Rs. 120
M = (100/84) * 120 = Rs. 142.86 (approximately)

So, the marked price of the product is approximately Rs. 142.86.

Charging y% on the Selling Price:
Let's assume the customer returns the product and the shopkeeper charges y% on the selling price.

The selling price is Rs. 120, and the shopkeeper charges y% on it.
Final Selling Price = Selling Price + y% of Selling Price

The shopkeeper wants to make sure that even after charging y% on the selling price, he does not lose his profit.

Calculating the value of y:
To find the value of y, we need to equate the final selling price with the cost price (to ensure no loss or profit).

Final Selling Price = Cost Price
120 + (y/100) * 120 = 100

Simplifying the equation:
120 + 1.2y = 100
1.2y = 100 - 120
1.2y = -20
y = -20/1.2
y = -16.67 (approximately)

The value of y is approximately -16.67.

Conclusion:
The value of y is approximately -16.67. This means that the shopkeeper charges a discount of -16.67% on the selling price if the customer returns the product, which ensures that the shopkeeper does not lose his profit.
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Directions: Study the following information carefully and answer the question.Meet Sarah, an ambitious sales representative working in a bustling retail store. Sarahs performance is evaluated based on four parameters: Customer Satisfaction, Product Knowledge, Salesmanship, and Promptness. Customers rate Sarah on a scale from 1 to 10 for each parameter. If Sarah receives a total rating of 30 or higher, she becomes eligible for a performance bonus of Rs. 50. Additionally, customers have the option to provide Sarah with a tip or no tip, which can be either Rs. 10 or Rs. 20.On a particular day, Sarah assisted four different customers: Alex, Ben, Claire, and David. At the end of her shift, Sarah accumulated a total of Rs. 130 in bonuses and tips. She did not get both a total rating of 30 or higher and a tip from the same customer. Here are some additional facts to consider:(i) Sarah received a combined rating of 28 for Product Knowledge, with both David and Claire giving her the same rating in this category. However, both Alex and Ben gave Sarah different higher ratings for Product Knowledge than both David and Claire.(ii) Each customer provided Sarah with distinct ratings for Salesmanship, which added up to 33. Similarly, Sarah received unique ratings for customer satisfaction from the four customers, however her total rating for Promptness is 26.(iii) Ben awarded Sarah the same rating for Salesmanship and customer satisfaction on the one hand, and product knowledge and Promptness on the other.(iv) Among the four customers, Alex gave Sarah the highest rating for salesmanship. Conversely, he provided Sarah with the lowest rating for Promptness.(v) Sarah received ratings between 6 and 9 for her Customer Satisfaction. Notably, Claire gave her the highest rating in this parameter, while Ben awarded her the lowest rating.(vi) If we compare each customers ranking based on their ratings for individual parameter, Alexs rank in Product Knowledge and Salesmanship is the same. Similarly Davids rank for Customer Satisfaction and Product Knowledge is the same.(vii) Interestingly, no individual awarded top rating like 9 or 10 twice or more and none of them awarded less than five rating.Q.Rating awarded by Claire for Salesmanship is

Question No. 6 A shopkeeper gives a discount of 16% on the marked price of a product and still gains 20% on the investment by selling a product. However, if customer returns the p he charges y% on the selling price to the customer and still does not lose his profit. What is the value of y? (Round off the answer upto two decimal places).?
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Question No. 6 A shopkeeper gives a discount of 16% on the marked price of a product and still gains 20% on the investment by selling a product. However, if customer returns the p he charges y% on the selling price to the customer and still does not lose his profit. What is the value of y? (Round off the answer upto two decimal places).? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Question No. 6 A shopkeeper gives a discount of 16% on the marked price of a product and still gains 20% on the investment by selling a product. However, if customer returns the p he charges y% on the selling price to the customer and still does not lose his profit. What is the value of y? (Round off the answer upto two decimal places).? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Question No. 6 A shopkeeper gives a discount of 16% on the marked price of a product and still gains 20% on the investment by selling a product. However, if customer returns the p he charges y% on the selling price to the customer and still does not lose his profit. What is the value of y? (Round off the answer upto two decimal places).?.
Solutions for Question No. 6 A shopkeeper gives a discount of 16% on the marked price of a product and still gains 20% on the investment by selling a product. However, if customer returns the p he charges y% on the selling price to the customer and still does not lose his profit. What is the value of y? (Round off the answer upto two decimal places).? 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.
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