A shopkeeper sold an article for rs. 2500. if the cost price of the article is 2000, find the profit percent.

How to Prepare for Quantitative Aptitude for CAT (2014) Block III: Arithmetic and Word-based Problems Chapter 6. PROFIT & LOSS INTRODUCTION Traditionally, Profit & Loss has always been an important chapter for CAT. Besides, all other Management entrance exams like SNAP, CMAT, MAT, ATMA as well as Bank P.O. exams extensively use questions from this chapter. From the point of view of CAT, the relevance of this chapter has been gradually reducing. However, CAT being a highly unpredictable exam, my advice to students and readers would be to go through this chapter and solve it at least up to LOD II, so that they are ready for any changes in patterns. Further, the Level of Difficulties at which questions are set in the various exams can be set as under: LOD I: CAT, XLRI, IRMA, IIFT, CMAT, Bank PO aspirants, MAT, NIFT, NMAT, and SNAP and all other management exams. LOD II: CAT, XLRI, IRMA (partially), etc. LOD III: CAT, XLRI (students aiming for 60% plus in Maths in CAT). THEORY Profit & Loss are part and parcel of every commercial transaction. In fact, the entire economy and the concept of capitalism is based on the so called “Profit Motive”. Profit & Loss in Case of Individual Transactions We will first investigate the concept of Profit & Loss in the case of individual transactions. Certain concepts are important in such transactions. They are: The price at which a person buys a product is the cost price of the product for that person. In other words, the amount paid or expend...

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Let the cost price of bag 1 be ‘x’ and the cost price of bag 2 be ‘y’. Now, we have, x + 25x/100 = 2500 ⇒ 5x/4 = 2500 ⇒ x = Rs. 2000 y – 20y/100 = 2500 ⇒ 4y/5 = 2500 ⇒ y = Rs. 3125 ⇒ Total CP = x + y = 2000 + 3125 = 5125 Total SP = 2500 + 2500 = Rs. 5000 ∴ Losspercentage = (5125 – 5000)/5125× 100 = 2.43% Thus, the correct answer is option 2.

Given: Cost price of both articles = Rs.3500 Profit gained from first article = 20% Loss from 2nd article = 10% Formula Used: Profit% = Profit/CP × 100 Loss% = Loss/CP × 100 Calculation: Let the cost price of first article be 100x and cost price of second article be 100y. Selling price for first article = 120/100 × 100x = 120x Selling price for second article = 90/100 × 100y = 90y So, 120x = 90y ⇒x = 3y/4 ----eq. 1 And total cost price = 100x + 100y = 3500 ⇒ x + y = 35 ----eq.2 From eq.1 and eq.2 by substituting values We get, x = 15 and y = 20 CP of first article = 100 × 15 = Rs. 1500 CP of second article = 100 × 20 = Rs. 2000 ∴ CP of first and second article are Rs. 1500 and Rs. 2000 respectively.