Selling price of a chair is Rs 1386. If loss percentage is 23%, then what is the cost price in Rs) of chair?

Options

A. 1600
B. 1800
C. 1900
D. 1067

Answer

To find the cost price of the chair given the selling price and loss percentage, we can follow these steps:

### Step 1: Understand the relationship between Selling Price (SP), Cost Price (CP), and Loss Percentage
The loss percentage indicates how much less the selling price is compared to the cost price. If the loss percentage is 23%, it means the selling price is 77% of the cost price (100% - 23% = 77%).

### Step 2: Set up the equation
Let the cost price be denoted as \( CP \). According to the information given:
\[ SP = 77\% \text{ of } CP \]
This can be expressed mathematically as:
\[ SP = \frac{77}{100} \times CP \]

### Step 3: Substitute the known values
We know the selling price (SP) is Rs 1386. Therefore, we can substitute this value into the equation:
\[ 1386 = \frac{77}{100} \times CP \]

### Step 4: Solve for the Cost Price (CP)
To find \( CP \), we can rearrange the equation:
\[ CP = \frac{1386 \times 100}{77} \]

### Step 5: Calculate the Cost Price
Now, perform the calculation:
\[ CP = \frac{138600}{77} \]
\[ CP = 1800 \]

### Conclusion
The cost price of the chair is Rs 1800.

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