Question

When selling price of a chair is increased by 60 a loss of 10% is converted into a profit of
20%. Find the cost price of the chair
A * 100
B 180
C 200
D 240​

Answer 1

Answer:

200

this answer is correct

100 is wrong answer

Answer 2

Answer:

The correct answer is option(C)

Step-by-step explanation:

Recall the formula,

Loss % = $\frac{loss }{CP} X100$

Profit % = $\frac{Profit }{CP} X100$

Loss = CP -SP

Profit = SP - CP

Solution:

Let the Cost price(CP) of a chair be 'x'

Since loss % is 10%, we have

10% = $\frac{loss }{x} X100$

Loss×100 = 10x

Since loss  = CP -SP = x - SP

Substituting the above equation, we get

(x - SP)×100 = 10x

100x - 100SP = 10x

90x = 100SP ---------------(1)

Again, it is given that when SP is increased by 60, profit percent = 20%

20% = $\frac{Profit }{CP} X100$

20% = $\frac{Profit }{x} X100$

20x = Profit ×100

Since profit = SP - CP,

Here SP = SP +60 and CP = x

Profit = SP +60 - x

Substituting the above equation we get,

20x = (SP +60 - x)100

20x = 100SP +6000 - 100x

120x = 100SP +6000 --------------(2)

Substituting the value of 100SP from equation (1) we get,

120x = 90x +6000

30x = 6000

x = $\frac{6000}{30} = 200$

∴ The cost price of a chair = 200

The correct answer is option(C)

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