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?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e 10%
Concept Used :
S.P. = M.P. × {(100 - D)/100}
Profit = S.P. - C.P.
Profit % = (profit/C.P.) × 100
Now, let the marked price of 1 pen be x.
M.P. of 40 pens = 40x.
Given that, discount = 1%
S.P. of 40 pens = 40x × (99/100)
S.P. of 40 pens = 39.6x
Also, C.P. of 40 pens = M.P. of 36 pens
C.P. of 40 pens = 36x.
P = 39.6x - 36x
P = 3.6x
Now, profrit % = (3.6x/36x) × 100
P % = 10%.
Hence the profit is 10%.