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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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