Question
The average cost of 4 chairs is Rs. 10000. The average cost decrease by 15% when one more chair is included. What is the cost price of the 5th chair?
Solution
Total cost of 4 chairs = 10000 × 4 = Rs. 40000 Average cost of all the 5 chairs = 10000 × (85/100) = Rs. 8500 Total cost of all the 5 chairs = 8500 × 5 = Rs. 42500 Cost of the 5th chair = 42500 - 40000 = Rs. 2500
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