The marked price of a chair is 30 percent more than its cost price. If the chair is sold for Rs. 200 after a discount of Rs. 40, then what will be the profit percentage?

8.34 percent

Let the cost price = m

Marked price = m + 30% of m = Rs. 1.3m

Discount = 40

Selling price = 1.3m – 40

According to the question,

⇒ 1.3m – 40 = 200

⇒ 1.3m = 240

⇒ m = \(\frac{2400}{13}\)

⇒ Cost price = Rs. \(\frac{2400}{13}\)

Profit = 200 - \(\frac{2400}{13}\) = \(\frac{200}{13}\)

Profit % = \(\frac{200}{13}\) × 100 ×  \(\frac{13}{2400}\)  = 8.34%