Question
The cost price of a chair is Rs. 300 less than the cost
price of a table. The chair is sold with a profit of 20%, while the table is sold at a loss of 10%. As a result, the total overall profit is Rs. 40. What is the cost price of the table?Solution
Let the cost price of chair be Rs. Y. Then, cost price of table = Rs. (Y + 300) So, selling price of chair = Y X 1.2 = Rs. 1.2Y Selling price of table = (Y + 300) X 0.9 = Rs. (0.9Y + 270) ATQ, Y + (Y + 300) + 40 = 1.2Y + (0.9Y + 270) Or, 2Y + 340 = 2.1Y + 270 Or, 0.1Y = 70 So, Y = 70 ÷ 0.1 = 700 So, cost price of the table = 700 + 300 = Rs. 1000
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