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CAT 2024 Slot 3 QA Question 16

Multiple choice (+3 / −1) · Arithmetic · Profit & Loss · Try it, then check the answer and solution below.

CAT 2024 Slot 3QAArithmetic • Profit & LossModerate
Gopi marks a price on a product in order to make 20% profit. Ravi gets 10% discount on that marked price, and thus saves Rs 15. Then, the profit, in rupees, made by Gopi by selling the product to Ravi, is
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Answer and solution

Answer: A) 10

📌 Core Concept
The problem involves calculating profit based on marked price, discount, and cost price. The key formula is:
Profit=Selling Price−Cost Price\text{Profit} = \text{Selling Price} - \text{Cost Price}
🔢 Step-by-Step Solution
1
Determine the Marked Price (M):
Ravi saves 10% of the marked price, which equals Rs 15.
Let MM be the marked price.
0.10×M=150.10 \times M = 15
M=150.10=150M = \frac{15}{0.10} = 150
2
Calculate the Selling Price (SP) after Discount:
Ravi pays 90% of the marked price.
SP=0.90×M=0.90×150=135SP = 0.90 \times M = 0.90 \times 150 = 135
3
Determine the Cost Price (C):
Gopi aims for a 20% profit on the cost price.
Selling Price (SP) is 20% more than Cost Price (C).
SP=1.20×CSP = 1.20 \times C
150=1.20×C150 = 1.20 \times C (Note: Here, SP is the marked price before discount, which is 150)
C=1501.20=125C = \frac{150}{1.20} = 125
4
Calculate Gopi's Profit:
Selling Price after discount = 135
Profit = SP - C = 135 - 125 = 10
⚡ 30-Second Shortcut
The discount saved (Rs 15) is 10% of the marked price, so marked price = 150.
Selling price after discount = 135.
Cost price = Marked price / 1.20 = 125.
Profit = 135 - 125 = 10.
Final

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