Question
The average cost of 3 chairs is Rs. 8000. The average cost decrease by 20% when one more chair is included. What is the cost price of the 4th chair?
Solution
Total cost of 3 chairs = 8000 × 3 = Rs. 24000 Average cost of all the 4 chairs = 8000 × (80/100) = Rs. 6400 Total cost of all the 4 chairs = 6400 × 4 = Rs. 25600 Cost of the 4th chair = 25600 - 24000 = Rs. 1600
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