The average cost of three chairs is Rs.16000. The average cost decrease by 20% when one more chair is included. What is the cost price of the 4th chair?
Total cost of three chairs = 16000 × 3 = Rs. 48000 Average cost of all the four chairs = 16000 × (80/100) = Rs. 12800 Total cost of all the four chairs = 12800 × 4 = Rs. 51200 Cost of the 3rd chair = 51200 - 48000 = Rs. 3200
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