Multiple choice

The marked price of a chair is 30 percent more than its cost price. If the chair is sold for Rs. 200 after a discount of Rs. 40, then what will be the profit percentage?

  1. 8.34 percent

  2. 7.28 percent

  3. 9.66 percent

  4. 8.13 percent

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let CP = x. Marked Price = 1.3x (30% more than CP). Selling Price = Rs. 200 (after discount of Rs. 40, so MP was Rs. 240). Therefore 1.3x = 240, giving CP = 240/1.3 = Rs. 184.62. Profit = 200 - 184.62 = Rs. 15.38. Profit % = (15.38/184.62) × 100 = 8.33% (approximately), confirming option A.