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