The 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 & explanation
Correct answer: option 2
20% = \(\frac{1}{5}\)
10% =\(\frac{1}{10}\)
Ratio of Marked price Selling price
10 : 9
10R = 2400
Selling price = 9R = 2160
Ratio of Cost price Marked price
5 : 6
6R = 2400
1R = 400
So , cost price = 5R = 2000
Profit percentage = \(\frac{160}{2000}\) × 100 = 8%