Question

On selling a chair of $Rs.736$, a shopkeeper suffers a loss of $8\%$. At what price should he sell it, so as to gain $8\%$?

Answer 1

Let the cost price of a chair $=Rs.x$
The selling price of a chair $=Rs.736$
At selling a shopkeeper suffers $8\%$ loss.
i.e., Selling price $=(100\%-8\%)$ of Cost price.

Selling price $=92\%$ of Cost price.

$\Rightarrow 736=\frac{92}{100}\times x$

$\Rightarrow 736\times \frac{100}{92}=x$

$\Rightarrow 800=x$

Therefore, Cost price of chair is $Rs.800$

Now, shop keeper needs get $8\%$ profit.

$\Rightarrow$ selling price of a chair $=(100\%+8\%)$ of Cost price

$=108\%$ of $Rs.800$

$=\frac{108}{100}\times Rs.800$

$=Rs.864$

Hence, the required selling price is $Rs.864$.