40 chairs are bought at the marked price of 36 chairs. If these 40 chairs are sold after giving a discount of 1%, then find the profit percentage?

40 chairs are bought at the marked price of 36 chairs.

Cost price of 40 chairs = marked price of 36 chairs

$$\frac{Cost\ price\ of\ each\ chair}{marked\ price\ of\ each\ chair}\ =\frac{36}{40}$$

If these 40 chairs are sold after giving a discount of 1%.

selling price of each chair = 10y of (100-1)%

= 10y of 99%

= $$10y\times\frac{99}{100}$$

= 9.9y

profit percentage = $$\frac{selling\ price-\cos t\ price}{\cos t\ price}\times100$$

= $$\frac{9.9y-9y}{9y}\times100$$

= $$\frac{0.9y}{9y}\times100$$

= $$\frac{0.9y}{9y}\times100$$

= 10%