A dealer get 56 rupees less if instead of selling a chair at a gain of 15 percent ,it is sold at 8 percent .find the cost price of the chair
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Suppose the cost price of chair is x.
When it is sold at a gain of 8%.
Then, selling price of chair = x+8x100 = 108x100
When it is sold at a gain of 15%.
Then, selling price of chair = x+15x100 = 115x100
Now, according to the question, a dealer gets Rs.56 less if instead of selling a chair at a gain of 15%, it is sold at a gain of 8%
So we have;
115x100−108x100 = 56⇒7x100 = 56⇒x = 56×1007 = 800
Therefore the cost price of chair is Rs.800.
When it is sold at a gain of 8%.
Then, selling price of chair = x+8x100 = 108x100
When it is sold at a gain of 15%.
Then, selling price of chair = x+15x100 = 115x100
Now, according to the question, a dealer gets Rs.56 less if instead of selling a chair at a gain of 15%, it is sold at a gain of 8%
So we have;
115x100−108x100 = 56⇒7x100 = 56⇒x = 56×1007 = 800
Therefore the cost price of chair is Rs.800.
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