A shopkeeper sold 8 chairs at a profit of 20% and 6 chairs at a profit of 10%. Had he sold all the 14 chairs at a profit of 12%, his profit would have been reduced by 442. What is the cost price of each chair? (cost of each chair is same)
A shopkeeper sold 8 chairs at a profit of 20% and 6 chairs at a profit of 10%. Had he sold all the 14 chairs at a profit of 12%, his profit would have been reduced by 442. What is the cost price of each chair? (cost of each chair is same)
1). Rs. 750
2). Rs. 775
3). Rs. 825
4). Rs. 850
2 answers
Let C.P. of each chair = $100x$
Case 1 : 8 chairs sold at 20% profit
=> S.P. of 8 chairs = $8 \times \frac{120}{100} \times 100x = 960x$
6 chairs sold at 10% profit
=> S.P. of 6 chairs = $6 \times \frac{110}{100} \times 100x = 660x$
$\therefore$ Total S.P. of 14 chairs = $960x + 660x = 1620x$
Case 2 : 14 chairs sold at 12% profit
=> S.P. of 14 chairs = $14 \times \frac{112}{100} \times 100x = 1568x$
Acc. to ques,
=> $1620x - 1568x = 442$
=> $52x = 442$
=> $xx = \frac{442}{52} = 8.5$
$\therefore$ C.P. of 1 chair = $100 \times 8.5$ = Rs. 850
Let C.P. of each chair = $100x$
Case 1 : 8 chairs sold at 20% profit
=> S.P. of 8 chairs = $8 \times \frac{120}{100} \times 100x = 960x$
6 chairs sold at 10% profit
=> S.P. of 6 chairs = $6 \times \frac{110}{100} \times 100x = 660x$
$\therefore$ Total S.P. of 14 chairs = $960x + 660x = 1620x$
Case 2 : 14 chairs sold at 12% profit
=> S.P. of 14 chairs = $14 \times \frac{112}{100} \times 100x = 1568x$
Acc. to ques,
=> $1620x - 1568x = 442$
=> $52x = 442$
=> $xx = \frac{442}{52} = 8.5$
$\therefore$ C.P. of 1 chair = $100 \times 8.5$ = Rs. 850