Question : The marked price of a chair is 10% more than its cost price. If the chair is sold for INR 300 after a discount of INR 140, then what will be the loss percentage?
Option 1: 20%
Option 2: 12.5%
Option 3: 25%
Option 4: 17%
Correct Answer: 25%
Solution :
Selling price = INR 300
Discount = INR 140
Marked price = selling price + discount = 300 + 140 = INR 440
Marked price = 110% of cost price
⇒ INR 440 = $\frac{110}{100}$ × cost price
$\therefore$ Cost price = $\frac{44000}{110}$ = INR 400
Now, Loss = cost price – selling price = 400 – 300 = INR 100
$\therefore$ Loss percentage $=\frac{\text{Loss}}{\text{Cost price}}× 100 = \frac{100}{400}× 100 = 25\%$
Hence, the correct answer is 25%.
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