CAT 2019 Quant Question with Solution 57

Question:
A shopkeeper sells two tables, each procured at cost price p, to Amal and Asim at a profit of 20% and at a loss of 20%, respectively. Amal sells his table to Bimal at a profit of 30%, while Asim sells his table to Barun at a loss of 30%. If the amounts paid by Bimal and Barun are x and y, respectively, then (x −y) / p equals

  1. 0.7
  2. 1
  3. 1.2
  4. 0.50
Show Answer

Correct Answer: Option: 2

Cost of table for Aman = 1.2p

Cost of table for Asim = 0.8p

Aman sells to Bimal at 1.3×1.2p=1.56p =cost of table for Bimal = x

Asim sells table to Barun at 0.7×0.8p = 0.56p = cost of table for Barun = y

Therefore, $\frac{x-y}{p}=\frac{1.56p-0.56p}{p}=1$


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