The average cost of two chairs is Rs.10000. The average cost decrease by 20% when one more chair is included. What is the cost price of the 3rd chair?
Total cost of two chairs = 10000 × 2 = Rs. 20000 Average cost of all the three chairs = 10000 × (80/100) = Rs. 8000 Total cost of all the three chairs = 8000 × 3 = Rs. 24000 Cost of the 3rd chair = 24000 - 20000 = Rs. 4000
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