Question

A shopkeeper purchases a table and a chair for ₹ 1400. If he sold them for ₹ 1630, he makes a profit of 20% on the table and 10% on the chair. Find the cost of one table and that of one chair.

Answer 1

Given:

• A shopkeeper purchases a table and a chair for ₹ 1400 cost price of table + cost price of chair = ₹ 1400
• He sold them for ₹ 1630 in total selling price of table + selling price of chair = ₹ 1630
• Profit on table = 20%
• Profit on chair = 10%

Step-wise calculation:

Let the cost price of the table be ₹ x and cost price of the chair be ₹ y.

So,

1. Total cost price x + y = 1400

Profit on the table is 20%, hence selling price of table

= x + 0.20x

= 1.20x

Profit on the chair is 10%, hence selling price of chair

= y + 0.10y

= 1.10y

2. Selling price equation:

1.20x + 1.10y = 1630

Now substitute (y = 1400 – x) from equation (1) into equation (2):

1.20x + 1.10 (1400 – x) = 1630

1.20x + 1540 – 1.10x = 1630

(1.20x – 1.10x) + 1540 = 1630

0.10x = 1630 – 1540 = 90

`x = 90/(0.10)` 

x = 900

Using (x + y = 1400),

900 + y = 1400

⇒ y = 500

Cost price of the table = ₹ 900.

Cost price of the chair = ₹ 500.