Question

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

Answer 1

Instead of selling a chair at 15% profit, if its sold at only 8% profit, dealer gets Rs. 56 less(profit).

If C.P is 'x',

C.P*115/100 - C.P*108/100 = 56

C.P*7/100 = 56

C.P = 56*100/7 = 800 Rs.

Hope it helps.