Percentages - Quant/Math - CAT 2007
Question 4 the day:
February 26, 2003
The question for the day is from the topic Percentages.
Question:
- If the cost price of 20 articles is equal to the selling price of 16 articles, What is the percentage of profit or loss that the merchant makes?
(1) 20% Profit
(2) 25% Loss
(3) 25% Profit
(4) 33.33% Loss
Correct Answer - (3)
Solution:
Let Cost price of 1 article be Re.1.
Therefore, Cost price of 20 articles = Rs. 20.
Selling price of 16 articles = Rs. 20
Therefore, Selling price of 20 articles = (20/16) * 20 = 25
Profit = Selling price - Cost price
= 25 - 20 = 5
Percentage of profit = Profit / Cost price * 100.
= 5 / 20 * 100 = 25% Profit
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