Question
Download Solution PDFThe marked price of a chair is ₹2,400, which is 20% above the cost price. If the chair is sold at a discount of 10% on marked price, what is the profit percentage?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
The marked price of a chair is ₹2,400, which is 20% above the cost price.
The chair is sold at a discount of 10% on the marked price
Concept used:
Selling price = Marked price × (100 - Discount)%
Selling price = Cost × (100 + profit)%
Calculation:
Selling price of the chair = 2400 × 90%
⇒ Rs. 2160
Now,
Cost price of the chair = 2400 × (100/120)
⇒ Rs. 2000
Profit = 2160 - 2000
⇒ Rs. 160
Profit% = (160/2000) × 100
⇒ 8%
∴ The profit percentage is 8%.
Shortcut Trick
MP is 20% above CP then CP : MP = 5 : 6
After 10% discount MP : SP = 10 : 9
Then, CP : SP = 50 : 54 so profit% = 4/50 × 100 = 8%
Last updated on Jul 23, 2025
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