A shopkeeper purchased a chair whose marked price is ₹1400, at two successive discounts of 20% and 30% respectively. If he sells the chair for ₹1176, then what is the profit percentage?
- A50
- B33.33
- C37.5
- D57.5
Solution & Step-by-step Explanation
1. Find the Cost Price (CP) for the shopkeeper:
Marked Price (MP) =₹1400
Successive discounts are 20% and 30%.
CP=1400×(1−
100
20
)×(1−
100
30
)
CP=1400×
100
80
×
100
70
CP=1400×0.8×0.7=1400×0.56=₹784
Find the Profit Percentage:
Selling Price (SP) =₹1176
Profit=SP−CP=1176−784=₹392
Profit %=
CP
Profit
×100=
784
392
×100=
2
1
×100=50%
Marked Price (MP) =₹1400
Successive discounts are 20% and 30%.
CP=1400×(1−
100
20
)×(1−
100
30
)
CP=1400×
100
80
×
100
70
CP=1400×0.8×0.7=1400×0.56=₹784
Find the Profit Percentage:
Selling Price (SP) =₹1176
Profit=SP−CP=1176−784=₹392
Profit %=
CP
Profit
×100=
784
392
×100=
2
1
×100=50%