If a chair is sold at a discount of 20%, then there is a profit of 20%. If the chair is sold at a discount of 30%, then what will be the profit?
Answer & explanation
Correct answer: option 1
CP MP
100 - D% 100 + P%
100 - 20% 100 + 20%
80 120
If the discount is 30% then the SP = 70% of 120 = 84
then the profit percentage = (84 - 80) × \(\frac{100}{80}\) = 5%