Q16
A shopkeeper offers a discount of 22% on the marked price of each chair, and gives 13 chairs to a customer for the discounted price of 12 chairs to earn a profit of 26% on the transaction. If the cost price of each chair is Rs 100, then the marked price, in rupees, of each chair is
Answer: 175
Key idea: Equate the money received for 13 chairs with cost plus 26% profit.
- Let the marked price be \(M\). Discounted price per chair \(=0.78M\); the customer pays for 12 chairs: \(12\times0.78M=9.36M\).
- Cost of 13 chairs \(=1300\); with 26% profit the revenue must be \(1300\times1.26=1638\).
- \(9.36M=1638\Rightarrow M=175\).
Hence, the answer is 175.