Raj and Rahul bought two chairs of same price. They sold one chair each. Raj made 6% profit and Rahul had 3% loss from the transaction. If Raj earned Rs 54 more than Rahul, what was the cost price of a single chair?
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Answer:
600
Step-by-step explanation:
let the cost price of chair be = x
profit earned by raj= 6/100 × x
and loss suffered by rahul is 3/100 × x
selling price of raj's chair = x + (6/100)x = x(1+6/100)= x(106/100)
selling price of rahul's chair = x - (3/100)x = x(1-3/100) = x(97/100)
according to question raj earned 54 more than rahul
=> x(106/100) - x(97/100) = 54
=> x ( 106-97 )/100 =54
=> x (9) = 5400
=> x = 5400/9
=> x = 600
therefore cost of each chair was 600 rs
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