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%. what is the CP of the chair?

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 = 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.

Answer 2

Let the CP be x

Then,

Gain =15%

Gain when selling =8%

Then,

CP=15%of x-56=8%of x

15x/100-56=8x/100of x

3x/20-2x/100=56

7x/100=56

x=56*100/7

x=800rupees