Latest Elitmus Aptitude Question SOLUTION: A buffet costs rs300. owner reduced the price 20% less. he got profit of 25% on its revenue. what is the percentage increase in number of customers?

• Placement Papers
• /
• Elitmus
• /
• Numerical Ability
• /
• Percentage

Elitmus Question Papers:

(#M40154988) ELITMUS Numerical Ability question percentage Keep an EYE

A buffet costs rs300. owner reduced the price 20% less. he got profit of 25% on its revenue. what is the percentage increase in number of customers?

Asked In Elitmus Bastab Kumar Das (8 years ago)

Unsolved Read Solution (10)

Is this Puzzle helpful?   (7)   (0) Submit Your Solution Percentage

Read Solution (10) :

Anand Prakash  (8 years ago)

let assume he sells 1 buffet daily,
now
then 300*1 = revenue (eq -1)
if he reduced his price by 20% then ,
240*(customer) = 125/100*revenue
customer = 1.25*300/240 = 1.56
means 56 % increase in customer.

Is this solution Helpfull? Yes (16) | No (2)  

bharati roy  (8 years ago)

initially, let the total budget including initial revenue be x per day, and y be the number of customers when the cost prize of buffet was 300.
300y=x;

when the price is reduced to 240,and profit 25%
the total budget including new revenue be 125x/100 per day, and z be the number of customers.
z=125x/(100*240)

% increase in customers = ((z-y)/y)*100
=56.25%

Is this solution Helpfull? Yes (7) | No   

Dhiraj Kumar Gupta  (8 years ago)

Simple Solution
...........
...........
Let assume initial revenue=R and initial no of customers=N and costs=300
then R=300*N.........................eq 1
later revenue increases 25% means R'= 125/100 and no of customers=N'
and buffet costs reduce 80% means 240
then R'=240*N'
125/100=240*N...........................eq 2
by solving eq 1 and eq 2,we will get N'/N=150/96.........
.% increase in customer=54*100/96=56.26%(ans)

Is this solution Helpfull? Yes (4) | No   

krishna  (8 years ago)

R = total revenue
C = cost of 1 buffet
N = total number of customer
R= C*N.............1 eq
5/4R= 4/5C*N'.......2 eq
divide the both eq
N'= 25/16N or N'= (16+9)/16 N hence 9/16*100 = 56.xx

Is this solution Helpfull? Yes (2) | No   

mohan kumar  (8 years ago)

One buffet cost 300
20% reduce means=240
After reduce price he gets 25% profit means 192 is cost price
i.e 100% is cost price and 25%is profit
Total 125%
240/5=48. 48*4=192
We take 5 parts in that 4 parts is cost price 1 part is profit

Is this solution Helpfull? Yes | No (1)  

Pallavi  (8 years ago)

Plzz anybody have today's 6 Dec cryptography question. Plllzzz share

Is this solution Helpfull? Yes | No (1)  

mamta kumari  (8 years ago)

Initially buffet costs rs.300 (M.P.), after reducng 20% now 80% of 300(S.P.)
(80/100)*300 =240

Increase in customers % = (60(differences in price)/240)*100=25%
i am not sure about dis ans ..If I am wrong plz do correct.

Is this solution Helpfull? Yes | No (1)  

rituraj  (8 years ago)

Price is always indirectly proportional to Consumption
i.e,Price goes up,then consumption will be less and vice versa

Price decrease = 1/5 =20%
Consumption will increase = (Num/Den-Num)=(1/5-1)=1/4 or 20% increase in customer
[Answer=20% increase]

***if price will increase,then formulae for consumption is (Num/Den+Num)*** :))))))))

Is this solution Helpfull? Yes | No (2)  

vivek kumar  (8 years ago)

56.25 is the ans

Is this solution Helpfull? Yes | No (1)  

swati  (6 years ago)

(cost) 300->240--------(25%inc on 300)-->375
req increase in percentage of customer=>(375-240)/240 * 100==56.25(ans)

Is this solution Helpfull? Yes | No   

Please Login to Read Solution.