Question 13

The marked price of a chair is 40% more than its cost price. If the chair is sold for Rs 520 after a discount of Rs 40, then what will be the profit percentage?

Solution

Let cost price = Rs. $$100x$$

=> Marked price = $$100x+(\frac{40}{100}\times100x)=Rs.$$ $$140x$$

Selling price = Rs. 520

=> Discount amount = $$140x-520=40$$

=> $$140x=40+520=560$$

=> $$x=\frac{560}{140}=4$$

Thus, cost price = $$100\times4=Rs.$$ $$400$$

$$\therefore$$ Profit % = $$\frac{(520-400)}{400}\times100$$

= $$\frac{120}{4}=30\%$$

=> Ans - (D)

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