The marked price of a chair was ₹1,000 but it was sold for ₹1,200. What is the percentage increase on the product?
Answer & explanation
Correct answer: option 4
Marked price of a chair = ₹1,000
Selling price of the chair = ₹1,200.
Percentage increase = (1200 - 1000) × \(\frac{100}{1000}\) = 20%