How to solve CAT 2024 Slot 2 - Quant Question 1?

This question can be solved by applying the core concept explained in the solution above, followed by step-by-step calculation and elimination of options.

Which concept is tested in this question?

This question tests fundamental concepts commonly asked in CAT exams.

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CAT 2024 - Slot 2 Quant Question 1

This is a detailed step-by-step solution for CAT 2024 - Slot 2 Quant Question 1. Understand the concept, common mistakes, and expert tips to solve similar questions in CAT exam.

CAT 2024 Slot 2 - Quant

Let the cost price of the item be C
We are given that Bina sells this at 19% loss or at (1 − 0.19)C = 0.81C at 4860
This gives us the value of C at Rs. 6000
If Bina had sold this at 17% profit, the selling price would have been 1.17 × 6000 = 7020
So Shyam bought the product at 4860 and sold it to Hari at 7020
Giving the profit made by Shyam to be 7020 − 4860 = 2160

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