Mohan buys a chair at Rs.1,200. If he sells it at Rs.1,440, then what is the profit percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 20%.
C.P. = Rs.1200
S.P. = Rs.1440
Profit = S.P. - C.P.
Profit = 1440 - 1200 = Rs.240
Profit = S.P. > C.P.
Profit% = 240/1200 × 100 = 20%