Profit and loss

Quantitative Aptitude (MTS)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

A shopkeeper sold 24 shirts, each at a profit of 20% and 16 shirts, each at a profit of 10%. If he had sold all the 40 shirts, each

at a profit of 15%, then his overall profit would have been reduced by Rs36. What is the cost price of each shirt?

This questions was previously asked in

SSC MTS 26th July 2022 Shift-3

Rs90

Rs100

Rs150

Rs220

- We are given two scenarios: one is the actual sale at 20% and 10% profit, and the other is a hypothetical sale at 15% profit.

- He sold 24 shirts at a 20% profit and 16 shirts at a 10% profit.

- Let the cost price of each shirt be Rs x.

- Total profit in the first scenario = \(24 \times 0.20x + 16 \times 0.10x = 4.8x + 1.6x = 6.4x\).

- Total profit in the second scenario (hypothetical) = \(40 \times 0.15x = 6x\).

- The difference in profit = \(6.4x - 6x = 0.4x\).

- We know 0.4x = Rs 36.

- Solving \(0.4x = 36\), we get \(x = 36/0.4 = 90\).

- Hence, the cost price of each shirt is Rs 90.

- Green Tick: Rs 90