Question

Rarhore sells at a loss of 15 %.Had he sold it for Rs.70 more he would have made a profit of 5%.What is the cost price of the chair?

Answer 1

Let $x$ = Cost Price

As $15+5=20$,
$20\%$ of $x=70$

$\frac{20}{100}x=70$

$x=350$

Thus the cost price of chair is $\boxed{350}.$

Answer 2

Let CP be x.
Therefore, original SP=x-x*15/100
=17x/20
If he had sold it for 17x/20+70 his SP would have been x+x*5/100
=21x/20 (since he would make a profit of 5%)
given
17x/20+70=21x/20
or,70=21x/20-17x/20
or,70=(21x-17x)/20
or,70=4x/20
or,70=x/5
or,x=350
Ans:The cost price of the chair is Rs.350