A 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?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Rs. 1125.
Let the selling price of one chair be x
Given that
Cost price of 20 chairs = Rs. 18000
The selling price of 20 chairs = 20x
According to the question
20x - 18000 = 4x
16x = 18000
x = 1125
Hence, the selling price of each chair is Rs. 1125