Question

A dealer gets 56 less if instead of selling a chair at a gain of 15%, it is sold at a gain of 8%. Find the cost price of the chair.

Answer 1

Let × be the Cost Price of Chair.

SP when chair is sold at gain of 15% = x + 15x/100 = 115x/100

SP when chair is sold at gain of 8% = x + 8x/100 = 108x/100

115x/100 – 108x/100 = 56

7x/100 = 56

x = (56 × 100)/7

= 800

So, the cost price of Chair is Rs.800