The marked price of a chair was ₹1,000

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Profit and Loss

Question:

The marked price of a chair was ₹1,000 but it was sold for ₹1,200. What is the percentage increase on the product?

Options:

10%

15%

35%

20%

Correct Answer:

20%

Explanation:

Marked price of a chair = ₹1,000

Selling price of the chair = ₹1,200.

Percentage increase = (1200 - 1000) × \(\frac{100}{1000}\) = 20%