A person sells 50 chairs for ₹10,000, suffering a loss of 15%. Estimate how many chairs should he sell for ₹9000 to make a profit of 10%?
Show answer & explanation
Correct answer: B
Explanation
Selling price of 50 chairs = ₹10,000 (15% loss)
Therefore, cost price of 50 chairs = 10,000 × 100/85
= ₹11,764.71
Cost price of 1 chair = 11,764.71/50= ₹235.294
Selling price of 1 chair at 10% profit = 235.294 × 110/100= ₹258.824
Chairs to be sold for ₹9,000 = 9,000/258.824
≈ 34.77≈ 35 chairs