Question : The marked price of a chair is Rs. 2,400, which is 20% above the cost price. If the chair is sold at a discount of 10% on the marked price, what is the profit percentage?
Option 1: 10%
Option 2: 8%
Option 3: 9%
Option 4: 26.2%
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Correct Answer: 8%
Solution :
The selling price of the chair $= 2400 × 90\%= \text{Rs. }2160$
Cost price of the chair $= 2400 × \frac{100}{120}= \text{Rs. }2000$
⇒ Profit $= 2160 - 2000= \text{Rs. }160$
So, profit % $= \frac{160}{2000} × 100=8\%$
Hence, the correct answer is 8%.
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