A dealer gets 56 less if instead of selling a chair at a gain of 15%, it is sold at a gain of 8%. Find the cost price of the chair.
Let × be the Cost Price of Chair.
SP when chair is sold at gain of 15% = × + 15x/100 = 115x/100
SP when chair is sold at gain of 8% = × + 8x/100 = 108x/100
115x/100 – 108x/100 = 56
7x/100 = 56
× = (56 × 100)/7
= 800
So, the cost price of Chair is Rs.800
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