CAT 2024 - Slot 1 Quant Question 14
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CAT 2024 Slot 1 - Quant
Let us fix the Cost Price of the product to be X, and the Selling Price of the product to be 1.4X, since it is given that it is fixed to have a profit of 40%.
If the CP has been 40% less, making the CP 0.6X,
And the selling price is 5 rupees less, making it 1.4X – 5
Profit will be 50%,
So, 1.5 (0.6X) = 1.4X – 5
0.9X = 1.4X – 5
0.5X = 5
X = 10
Original selling price will be 14.