A driver of auto rickshaw makes a profit of 20% on every trip when he carries 3 passengers and the price of petrol is Rs. 30 a litre. Find the % profit for the same journey if he goes for 4 passengers per trip and the price of petrol reduces to Rs. 24 litres? (revenue per passenger is same)
A. 20%
B. 33.33%
C. 100%
D. 65.66%
E. Data inadequate
Answer: Option C
Solution (By Examveda Team)
Assume the cost price = 100 and selling price = 120 Then, when price of petrol is reduced Cost price become 60 and selling price = 160 Profit increased = 100%This Question Belongs to Arithmetic Ability >> Profit And Loss
how cost price become 60?
ANSWER
When 3 passengers income was 3x
expense= Rs.30
profit =20% of 30= Rs.6
That means his earning is Rs.36
so that per passenger fare must be Rs.12.
When 4 passengers
earning =12×4=Rs.48.
expense =Rs.24.
profit = Rs.24=100%
profit will be 52 %.
100 % is incorrect.
3x=30*1.2y
Petrol prices are CP
4x=24y(1+z)
Solve for z
3x=30*1.2y
Petrol prices are CP
4x=24y(1+z)
Let he used 1lt for journey.So he made a profit 6.
So total income 36.. Per person 12.
Later oil price become 24 and income becomes 12 * 4 =48
So profit is 24 on investing 24.. So profit 100 %
He makes a profit of 20% on Rs. 30.
That is 6. So Rs. 12 is charged per traveller.
Now if one more traveller included, he would get Rs. 48.
Since the petrol price goes down to Rs.24, 100% is the overall profit made.
can anyone plz explain how value of CP becomes 60??