The marked price of a chair is 10 percent more than its cost price. If the chair is sold for Rs 132 after a discount of Rs 11, then what will be the profit percentage?

a) 1.53 percent
b) 1.78 percent
c) 2 percent
d) 1.21 percent

Ans : a) 1.53 percent

SSC Constable GD Paper 21 Feb 2024 ( 3rd shift)

Step 1: Define the terms.

  • Let the cost price (CP) of the chair be ( x ) rupees.
  • The marked price (MP) is 10% more than the cost price, so:
    MP = x + 0.1x = 1.1x
  • The chair is sold for Rs. 132 after a discount of Rs. 11.
  • This means the selling price (SP) is: SP = 132
  • The marked price minus the discount is equal to the selling price:
    MP – 11 = SP
  • Substituting ( SP = 132 ) into the equation:
    MP – 11 = 132
    MP = 132 + 11 = 143

Step 2: Find the cost price (CP).

We know that ( MP = 1.1x ) and ( MP = 143 ), so:
1.1x = 143
Solving for ( x ) (the cost price):
x = \frac{143}{1.1} = 130

Step 3: Calculate the profit.

  • The cost price (CP) is Rs. 130.
  • The selling price (SP) is Rs. 132.
  • Profit = SP – CP = 132 – 130 = 2

Step 4: Calculate the profit percentage.

The profit percentage is given by:
\text{Profit Percentage} = \left( \frac{\text{Profit}}{\text{Cost Price}} \right) \times 100 = \left( \frac{2}{130} \right) \times 100 \approx 1.53\%

Answer: The profit percentage is approximately 1.53%.

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