By selling a chair for rs 720,a trader gains 20%. Find the cost prize of the chair.
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Step-by-step explanation:
- Selling price of chair = ₹720
- And, gain% = 20%
- Cost price = SP * 100/100+ gain%
- CP = 720*100/100+20 = 720*100/120 = 6*100(120*6=720) = ₹600
- Hence, cost price of chair = ₹600
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