Question

A seller sells 12 chairs at a profit of 12% and 4 chairs at a loss of 3%. If his total profit is * 1650, the cost price of each chair is: (a) 1490 (b) * 1250 (c) ₹1100 (d) ₹1380​

Answer 1

profit of 12 chair = 12×112/100 =336/25

loss of 4 chair = 4×97/100 = 97 /25

overall = 336+97/25 = 433/25

cost price of each chair

1650 = 433/25-16x

• = 1250

Answer 2

Given- A seller sells 12 chairs at a profit of 12% and 4 chairs at a loss of 3%. If his total profit is * 1650.

Find the cost price of each chair

Solution-

In retail systems, the cost price represents the specific value that represents the unit price purchased. This value is used as a key factor in determining profitability, and in some stock market theories, it is used in establishing the value of the stock holding.

The selling price is the price that a customer pays to purchase a product or a commodity. It is a price above the cost price and includes a percentage of profit also. Cost price is the price at which the seller purchases the product or the commodity.

Profit, in accounting, is an income distributed to the owner in a profitable market production process. Profit is a measure of profitability, which is the owner's major interest in the income-formation process of market production. There are several profit measures in common use.

Loss is defined as having something or someone leaves or be taken away from you, a feeling of grief when something is gone, or a decline in money. An example of loss is when your parent dies. An example of loss is when you are fired from your job. An example of loss is what you feel when your pet dies.

Let the cost of the chain be $x$

$12$ chair cost $=12x$

$4$ chair cost$=4x$

According to the question,

Case 1

$CP=12x$

$SP=12x+\frac{12}{100}+12x$

$=\frac{1200x+12+12x}{100}$

$=\frac{1344}{100}x$

Case 2

$CP=4x$

$SP=4x-\frac{3}{100}\times 4x$

$=\frac{400x-12x}{100}$

$=\frac{388}{100}x$

Total profit= $SP-CP$

$=\frac{1344}{100}x+\frac{388}{100}x-[12x+4x]$

$=\frac{1732}{100}x-16x$

$1650=\frac{433}{25}x-16x$

$1650=\frac{33x}{25}$

$x=\frac{25\times 1050}{33}$

$x=1250$

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