The marked price of a chair is â‚¹2,400, 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 ?

8%

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%