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    The marked price of a chair is 20 percent more than its cost price. If the chair is sold for Rs. 220 after a discount of Rs. 20, then what will be the
    Question


    The marked price of a chair is 20 percent more than its cost price. If the chair is sold for Rs. 220 after a discount of Rs. 20, then what will be the profit percentage?

    A.

    20 percent

    B.

    30 percent

    C.

    10 percent

    D.

    15 percent

    Correct option is C


    Selling price = Marked price - Discount
    MP = 220 + 20
    240
    According to the question:
    CP × 120% = 240
    CP = 2400/12 = 200
    Profit = 220 - 200
    Profit = 20 
    Profit percentage = (20/200) × 100
    Profit percentage = 10% 

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