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Overall Profit on Mangoes

CAT 2017 Slot 1 · Quantitative Ability · Medium · Profit and Loss

This is a medium Quantitative Ability question from the CAT 2017 Slot 1 paper. It tests Profit and Loss. The full answer key and a step-by-step explanation are below — try it yourself first, then reveal the solution.

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In a market, the price of medium quality mangoes is half that of good mangoes. A shopkeeper buys 80 kg80\text{ kg} good mangoes and 40 kg40\text{ kg} medium quality mangoes from the market and then sells all these at a common price which is 10%10\% less than the price at which he bought the good ones. His overall profit is:

  1. A.

    6%

  2. B.

    8%

  3. C.

    10%

  4. D.

    12%

Answer

B

Explanation

Let price of good mangoes = Rs 100/kg. Price of medium = Rs 50/kg. Total Cost Price = 80×100+40×50=8000+2000=1000080 \times 100 + 40 \times 50 = 8000 + 2000 = 10000. Selling price per kg = Rs 90. Total Selling Price = (80+40)×90=120×90=10800(80 + 40) \times 90 = 120 \times 90 = 10800. Profit = 10800−10000=80010800 - 10000 = 800. Profit percentage = 80010000×100=8%\frac{800}{10000} \times 100 = 8\%.

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