The marked price of a bed is ₹1,600, which is 25% above the cost price. It is sold at a discount of 16% on the marked price. Find the profit percentage.
Given:
Marked Price (MP) = ₹1,600
Marked Price is 25% above the Cost Price (CP), i.e., MP = CP + 25% of CP
Discount given = 16% on MP
Formula Used:
Profit percentage is calculated as:
Solution:
MP = CP + 25% of CP
CP
SP =
SP = 160 1344
Profit = SP − CP = 1344 − 1280 = 64
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