The cost price of a table and a chair together is Rs 400. The table is sold at a profit of 25% and the chair is sold at a profit of 25%. Find the total selling price (in Rs) of both items together.
Correct Answer :
500
Solution :
The correct answer is 500.
Step 1: Understand the given information
Total cost price of the table and chair together = Rs 400.
Profit percentage on the table = 25%
Profit percentage on the chair = 25%
Step 2: Calculate the overall profit
Since both the table and the chair are sold at the same profit percentage of 25%, the overall profit percentage on the combined cost price of both items will also be 25%.
To find the total profit amount in Rupees:
So, the total profit earned on selling both items is Rs 100.
Step 3: Calculate the total selling price
The selling price is equal to the total cost price plus the total profit earned.
Thus, the total selling price of both items together is Rs 500.
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