CAT Exam Model Paper 1 with solutions for free online practice

Question : 76 of 100

Marks: +1, -0

Teenagers shoe company sells the shoes whose prices i.e., cost prices and selling prices are the multiples of either 13, 14, 15, 16, 17, 18 or 19, starting from ₹ 399 to ₹ 699 (i.e., 399 ≤ CP/SP≤ 699). What can be the maximum profit of the company?

Your Answer:

Validate

Solution:

The maximum possible profit = maximum possible difference in SP and CP.
It means SP be maximum and CP be minimum
CP

_{(\min)}

= ₹ 399
19 m = 399
where m is an integer.
Again SP(max) = ₹ 697, which is very close to 699
Here 697 = 17 k; k is a positive integer.
So, the maximum profit = 697 − 399 = ₹ 298

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