A chair is sold for ₹720 after giving a discount of 10% on its marked price. The cost price of the chair is ₹640. If it is sold at the marked price, then the profit percentage will be:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 25%
After a discount of 10% on the Marked Price, the chair is sold for Rs. 720
Thus, the Marked Price = (100/90) × 720 = Rs. 800
The cost Price is Rs. 640
If the selling price = Marked Price
Then, profit percentage = [(800 - 640)/640]/100 = [160/640]/100 = 100/4 = 25%