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      Question

      40 Chairs are bought at the marked price of 36 chairs.

      If these 40 chairs are sold after giving a discount of 1%, find the profit percentage.
      A 8% Correct Answer Incorrect Answer
      B 7.25% Correct Answer Incorrect Answer
      C 10% Correct Answer Incorrect Answer
      D 5% Correct Answer Incorrect Answer

      Solution

      Let marked price of each chair = x

      C.P of 40 Chairs = M.P of 36 chairs = 36x

      S.P of 40 chairs = 40*(1 - 1/100)x = 39.6x

      Profit percentage = 100*(39.6 - 36)/36 = 3.6*100/36 = 10%

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