The cost price of a chair is three times of the profit earned on selling the chair. What is the approximate profit percentage gained through the sale?

The cost price of a chair is three times of the profit earned on selling the chair.

cost price of a chair = 3(selling price of a chair-cost price of a chair)

Let's assume the cost price and selling price of a chair is CP and SP respectively.

CP = 3(SP-CP)

CP = 3SP-3CP

4CP = 3SP

$$\frac{CP}{SP}=\frac{3}{4}$$

Let's take CP = 3y and SP = 4y

Approximate profit percentage = $$\frac{\left(SP-CP\right)}{CP}\times100$$

= $$\frac{\left(4y-3y\right)}{3y}\times100$$

= $$\frac{y}{3y}\times100$$

= 33.33%