Question 2 - Figure it out - Page 19, 20 - Chapter 1 Class 8 - Fractions in Disguise (Ganita Prakash II)

Last updated at February 13, 2026 by

I am a carpenter and I make chairs. The cost of materials for a chair - Figure it out - Page 19, 20

part 2 - Question 2 - Figure it out - Page 19, 20 - Chapter 1 Class 8 - Fractions in Disguise (Ganita Prakash II) - Class 8 (Ganita Prakash - 1, 2 & Old NCERT)

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Question 2 I am a carpenter and I make chairs. The cost of materials for a chair is β‚Ή475 and I want to have a profit margin of 50%. At what price should I sell a chair?Given Cost Price = β‚Ή 475 Profit margin = Profit percentage = 50% We need to find Selling price Now, Profit margin = π‘ƒπ‘Ÿπ‘œπ‘“π‘–π‘‘/(πΆπ‘œπ‘ π‘‘ π‘ƒπ‘Ÿπ‘–π‘π‘’) Γ— 100 Profit margin = (π‘Ίπ’†π’π’π’Šπ’π’ˆ π‘·π’“π’Šπ’„π’† βˆ’ π‘ͺ𝒐𝒔𝒕 π‘·π’“π’Šπ’„π’†)/(π‘ͺ𝒐𝒔𝒕 π‘·π’“π’Šπ’„π’†) Γ— 100 Putting values 50 = (π‘Ίπ’†π’π’π’Šπ’π’ˆ π‘·π’“π’Šπ’„π’† βˆ’ πŸ’πŸ•πŸ“)/πŸ’πŸ•πŸ“ Γ— 100 50 = (Selling Price – 475) Γ— 100/475 50 Γ— 475/100 = (Selling Price – 475) Selling Price – 475 = 50 Γ— πŸ’πŸ•πŸ“/𝟏𝟎𝟎 Selling Price – 475 = 475/2 Selling Price – 475 = 237.5 Selling Price = 237.5 + 475 Selling Price = β‚Ή 712.5 Thus, he should sell the chair for β‚Ή712.50

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CA Maninder Singh is a Chartered Accountant for the past 16 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.