Question
Download Solution PDFA shopkeeper bought 20 chairs for ₹18,000. On selling them he had a gain equal to the selling price of four chairs. What is the selling price of each chair?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A shopkeeper bought 20 chairs for ₹18,000
On selling them he had a gain equal to the selling price of four chairs
Calculation:
Profit = (S.P. of 20 chairs) − (C.P. of 20 chairs)
⇒ S.P. of 4 chairs = S.P. of 20 chairs − C.P. of 20 chairs
⇒ S.P. of 16 chairs = C.P. of 20 chairs
⇒ S.P. of 16 chairs = 18000
⇒ S.P. of 1 chair = Rs. 18000/16
⇒ Rs 1125
∴ The selling price of each chair is Rs. 1125.
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