Question
On selling 32 chairs at Rs. 2800, there is a loss equal
to the cost price of 4 chairs. The cost price of a chair is:Solution
SP of 32 chairs = Rs. 2800 Then, SP of 1 chair = 2800/32 = 87.5 Let the cost price of one chair be CP. Loss occurred due to selling 32 chairs = cost price of 4 chairs L × 32 = 4 × CP L = CP/8 SP = CP - L 87.5 = CP - CP/8 CP × (7/8) = 87.5 CP = Rs. 100 ∴ Cost price of each chair be Rs 100.
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