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%.
The marked price of a chair was 1000 but it was sold for 1200.
Selling Price = Profit + Cost Price
C.P. of the chair = 1000
S.P. of the chair = 1200
S.P. = Profit + C.P.
Profit = SP - CP = 1200 - 1000 = 200
Percentage increase = (200/1000) × 100% = 20%