The question is from CAT Profit and Loss.2IIMs CAT question bank provides you with CAT questions that can help you gear for CAT Exam CAT 2020. This question compares the old profit with the new profit when the price is increased.Think - Profit Percentage!
Question 19: Ram sells onions in the streets of Chandni Chowk. Due to recent shortfall in the supply of onions, he doubles his selling price despite the cost price remains same for him due to a fixed price contract. He realizes that his profit have tripled. Find the original profit percent.
Let the C.P. be x and S.P. be y.
3(y-x) = 2y – x
=> 3y – 3x = 2y – x
=> y = 2x
Original profit = Rs y – x
= Rs 2x – x (Since, y = 2x)
= Rs x
∴ Original profit % = x/x ∗ 100
= 100 %
The question is "Find the original profit percent."
The original profit percent is 100%
Choice B is the correct answer.
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