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
Answers
Answer:
200
this answer is correct
100 is wrong answer
Answer:
The correct answer is option(C)
Step-by-step explanation:
Recall the formula,
Loss % =
Profit % =
Loss = CP -SP
Profit = SP - CP
Solution:
Let the Cost price(CP) of a chair be 'x'
Since loss % is 10%, we have
10% =
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% =
20% =
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 =
∴ The cost price of a chair = 200
The correct answer is option(C)
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