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Discount Adjustment After Loss of Stock

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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If Fatima sells 60 identical toys at a 40%40\% discount on the printed price, then she makes 20%20\% profit. Ten of these toys are destroyed in fire. While selling the rest, how much discount should be given on the printed price so that she can make the same amount of profit?

  1. A.

    30%

  2. B.

    25%

  3. C.

    24%

  4. D.

    28%

Answer

D

Explanation

Let printed price per toy = Rs 100. Discounted price = Rs 60. Total SP for 60 toys = 60×60=360060 \times 60 = 3600. Since she makes 20%20\% profit, CP=36001.2=3000CP = \frac{3600}{1.2} = 3000. Profit = Rs 600. To get the same profit of Rs 600, total SP must still be 36003600. She now sells 50 toys. SP per toy = 360050=72\frac{3600}{50} = 72. Discount per toy = 100−72=28100 - 72 = 28, which is 28%28\%.

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