Profit and Loss Questions for CAT Set-2 PDF

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Profit and Loss Questions for CAT
Profit and Loss Questions for CAT

Profit and Loss Questions for CAT:

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Question 1:

Gopal went to a fruit market with certain amount of money. With this money he can buy either 50 oranges or 40 mangoes. He retains 10% of the money for taxi fare. If he buys 20 mangoes, then the number of oranges he can buy is

A. 25
B. 20
C. 18
D. 6

Question 2:

Instead of a metre scale, a cloth merchant uses a 120 cm scale while buying, but uses an 80 cm scale while selling the same cloth. If he offers a discount of 20% on cash payment, what is his overall profit percentage?

A. 20%
B. 25%
C. 40%
D. 15%

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Question 3:

Once I had been to the post office to buy five-rupee, two-rupee and one-rupee stamps. I paid the clerk Rs. 20, and since he had no change, he gave me three more one-rupee stamps. If the number of stamps of each type that I had ordered initially was more than one, what was the total number of stamps that I bought?

A. 10
B. 9
C. 12
D. 8

Question 4:

The price of a Maruti car rises by 30% while the sales of the car come down by 20%. What is the percentage change in the total revenue?

A. –4%
B. –2%
C. +4%
D. +2%

Question 5:

A yearly payment to the servant is Rs. 90 plus one turban. The servant leaves the job after 9 months and receives Rs. 65 and a turban. Then find the price of the turban.

A. Rs. 10
B. Rs. 15
C. Rs. 7.50
D. Cannot be determined

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Answers and solutions for Profit and Loss Questions for CAT:

Solutions:

Answer 1:

Let’s say the amount of money Gopal has is x rs.
Taxi fare = 0.1x
Remaining money = 0.9x
Cost of 40 mangoes = x
Cost of 20 mangoes = 0.5x
Remaining money = 0.4x
Now 50 oranges cost = x
So with 0.4x he can buy 20 oranges.

Answer 2:

Lets say the cost of the cloth is x rs per metre. Because of the faulty meter, he is paying x for 120 cms when buying.
So cost of 100 cms = 100x/120. He is selling 80 cms for x, so selling price is 100x/80. discount = 20%
so selling price is .8*100x/80= x
profit = x – 100x/120 = x/6
Profit % = x/6 divided by 100x/120 = 20%

 

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Answer 3:

As shopkeeper gave 3 one-rupee change for 20 rs. change, Buyer must have ordered for a total of 17 rs. stamps.
Now buyer ordered for at least more than 1 stamp for each type
Hence the minimum he bought was:
2 stamp for 5 rupees = 10 rs.
2 stamp for 2 rupees = 4 rs.
2 stamp for 1 rupee = 2 rs.
For the total to be seventeen, the buyer must have purchased 3 one rupee stamps.
And 3 one rupee stamps were also there as changes given by shopkeeper.
So total number of stamps = 2+2+(3+3) = 10

Answer 4:

let’s say price of maruti car is x rs.
Sales = y
revenue = xy
Changed price = 1.3x
changed value of sales = 0.8y
new revenue = 1.04 xy
Percentage change in revenue = 4%

Answer 5:

Let’s say price of turban is x.
So total price for 12 months will be = $90+x$
Total price for 9 months = $\frac{(90+x) \times 9}{12} = (65+x) $
By solving above equation, we will get value of x= 10.

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