The selling price of one chair and one table is Rs.480 each. If chair was sold at the loss of 25% and table was sold at the profit of 60%, then find the difference between the cost price of chair and table.

The correct option is Rs.340.

Let us solve this step-by-step by finding the cost price of both the chair and the table.

Step 1: Calculate the cost price of the chair
Given:
Selling Price of the chair (SP_chair) = Rs. 480
Loss percentage on chair = 25%

The relation between Selling Price (SP) and Cost Price (CP) when there is a loss is given by:

${\mathrm{SP}}_{\text{chair}}={\mathrm{CP}}_{\text{chair}}\times \left(1-\frac{\text{Loss \%}}{100}\right)$

Substituting the given values into the equation:

$480={\mathrm{CP}}_{\text{chair}}\times \left(1-\frac{25}{100}\right)$

$480={\mathrm{CP}}_{\text{chair}}\times \frac{75}{100}$

$480={\mathrm{CP}}_{\text{chair}}\times \frac{3}{4}$

${\mathrm{CP}}_{\text{chair}}=\frac{480\times 4}{3}=160\times 4=\text{Rs. 640}$

Step 2: Calculate the cost price of the table
Given:
Selling Price of the table (SP_table) = Rs. 480
Profit percentage on table = 60%

The relation between Selling Price (SP) and Cost Price (CP) when there is a profit is given by:

${\mathrm{SP}}_{\text{table}}={\mathrm{CP}}_{\text{table}}\times \left(1+\frac{\text{Profit \%}}{100}\right)$

Substituting the given values into the equation:

$480={\mathrm{CP}}_{\text{table}}\times \left(1+\frac{60}{100}\right)$

$480={\mathrm{CP}}_{\text{table}}\times \frac{160}{100}$

$480={\mathrm{CP}}_{\text{table}}\times \frac{8}{5}$

${\mathrm{CP}}_{\text{table}}=\frac{480\times 5}{8}=60\times 5=\text{Rs. 300}$

Step 3: Find the difference between the cost price of chair and table

$\text{Difference}={\mathrm{CP}}_{\text{chair}}-{\mathrm{CP}}_{\text{table}}$

$\text{Difference}=640-300=\text{Rs. 340}$

Thus, the difference between the cost price of the chair and the table is Rs. 340.