Question

A dealer get Rs. 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 cycle.

Answer 1

Suppose the cost price of chair is x.When it is sold at a gain of 8%.Then, selling price of chair = x+8x100 = 108x100When it is sold at a gain of 15%.Then, selling price of chair = x+15x100 = 115x100Now, 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 = 800Therefore the cost price of chair is Rs.800.