Question

A shopkeeper bought two chairs for 3120 rupees. He sold one of them at a gain of 36% but the other was sold for a loss of 15%. He found that each chair was sold for the same price. Find the cost price of each chair?​

Answer 1

Let the CP of first fan be Rs a
CP of second fan = Rs (3120 - a)

Profit on first fan = 36%
SP of first fan = a + 36% of a
= a + 36a / 100
= 136a/100

Loss on second fan = 5%
SP of second fan = (3120 -a) - 5% of (3120-a)
= (3120 -a) - [5(3120 - a) / 100]

According to question
SP of first fan = SP of second fan
136a / 100 = {(312000-100a) - (15600 - 5a)} / 100
=> 136a = 312000 - 100a - 15600 - 5a
=> 241a = 296400
=> a = 1300 approx

CP of first fan = Rs 1300
Cp of second fan = Rs 1820