If a chair is bought for ₹2000 and is sold at a gain of 10%, then the selling price of the chair is ₹2010. State whether the statement is true or false

Solution:

If a chair is bought for ₹2000 and is sold at a gain of 10%, then the selling price of the chair is ₹2010.

We have to determine if the given statement is true or false.

According to the question,

CP = ₹2000

Profit% = 10%

We know, Profit = SP - CP

Profit% = Profit/CP × 100

10 = (SP - 2000)/2000 × 100

10/100 = SP/2000 - 1

1/10 + 1 = SP/2000

11/10 = SP/2000

SP = 11×2000/10

= 11×200

= 2200

Therefore, the selling price is ₹2200.

✦ Try This: If a table is bought for ₹500 and is sold at a gain of 20%, then the selling price of the chair is ₹900. State whether the statement is true or false.

☛ Also Check: NCERT Solutions for Class 7 Maths Chapter 8

NCERT Exemplar Class 7 Maths Chapter 7 Problem 73

If a chair is bought for ₹2000 and is sold at a gain of 10%, then the selling price of the chair is ₹2010. State whether the statement is true or false

Summary:

The given statement,”If a chair is bought for ₹2000 and is sold at a gain of 10%, then the selling price of the chair is ₹2010” is false.

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