The marked price of a chair was ₹1,000 but it was sold for ₹1,200. What is the percentage increase on the product?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 20%
Given that
Marked price (M.P.) = ₹1,000
Selling price (S.P.) = ₹1,200
Formula used
The percentage increase on the product = [(S.P. - M.P.)/M.P.] × 100
Calculation
The percentage increase on the product = [(1200 - 1000)/1000] × 100 = 20%