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Get access to the detailed solutions to the previous years questions asked in IIM IPMAT exam
Let the cost price of the item be C
We are given that Bina sells this at 19% loss or at (1 − 0.19)C = 0.81C at 4860
This gives us the value of C at Rs. 6000
If Bina had sold this at 17% profit, the selling price would have been 1.17 × 6000 = 7020
So Shyam bought the product at 4860 and sold it to Hari at 7020
Giving the profit made by Shyam to be 7020 − 4860 = 2160