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Quantitative Reasoning – Practice – Change in profit!

PSA_LEVEL-UP_QNR14. Find the change in the percentage profit for a fruit vendor who, after finding 20% of fruits rotten, increased his selling price by 10% over and above 15% that he was already charging?

a) 15%
b) 13.2%
c) -13.8%
d) -20%


Ans:

Let us assume fruit vendor buys 100 kg of apples at Rs. 10/kg [Nowhere in the world apples are sold at this rate!!! But you have to agree to the assumption :-)].
CP= 1000

In first scenario,
SP1= 1000*(10*1.15)= 1150 [Selling price is 15% more than the CP indicates the multiple factor is 1+15/100 or 1.15 ].

In this case, Profit, P1= 150.

Profit % in first scenario= = (P1)*100/CP =150*100/1000 = 15%

In second scenario,
SP2= (100*0.80) * (10*1.15*1.1)= 800*1.265 = 8*126.5= 1012

In this case, Profit, P2= 1012-1000 = 12

Profit % in second scenario= (P2)*100/CP = 12*100/1000 = 1.2%

Change in profit percentage = 1.2-15=-13.8%. Option C.

Alternatively,

Multiplying factor in the first scenario = 1.15 [Indicating 15% increase]

Multiplying factor in the second scenario = 1.15 * 1.1 * 0.8 [0.8 because whatever is the increase in selling price, sellable quantity has decreased after rottening of 20% fruits]
=0.92* 1.1
=1.012 [Indicating 1.2% increase]

Change = Final – Initial = 1.2 – 15 = -13.8.

2 Comments

  1. If a fruit vendor sells 83 percent of his fruits and remains are 34 fruits after selling. What is the total number of fruits he have .

    • Hi UD,
      Apologies for the late reply! We missed your question! So, here is our approach!

      Fruit vendor sells 83% of his fruits. Remaining is 17% (i.e. 100%-83%).
      So, 17% is equivalent to 34 fruits (given).
      1% is equivalent to 2 (=34/17)
      100% is equivalent to 200.
      This tells us the fruit vendor had started with 200 fruits. 🙂
      Entire calculation can be done mentally if you happen to understand the logic.

      Hope, we have been able to be of some help here! Let us know if you have any queries!

      Thanks,
      Admin (onlinepsa.in)

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