A shopkeeper bought 2 chairs in Rs. 900. He sells first chair at \(\frac{5}{4}\) of its cost price and second chair at \(\frac{4}{5}\) of its cost price. If he gains Rs. 90 as a profit then find the cost price of both chairs.
Answer & explanation
Correct answer: option 1
1st chair:
SP = \(\frac{5}{4}\) × CP
⇒ C.P. : S.P. = 4 : 5
⸫ Profit percent = \(\frac{1}{4}\) × 100 = 25%
IInd chair:
SP = \(\frac{4}{5}\) × CP
⇒ C.P. : S.P. = 5 : 4
⸫ Loss percent = \(\frac{1}{5}\) × 100 = - 20%
Overall profit = Rs. 90
Overall profit percent = \(\frac{90}{900}\) × 100 = 10% profit
Now, Using allegation method:
Now,
3R = Rs. 900 (given)
1R = 300
Hence,
C.P. of 1st = 2R = 2 × 300 = Rs. 600
C.P. of 2nd = 1R = 1 × 300 = Rs. 300