Question

A chair is bought by a trader at $20\%$ discount on its marked price. The marked price is Rs $7,200$. If he sells it at $16\%$ discount on its marked price, find the profit percent made in the whole transaction.

Answer 1

Brought cost of chair after $20\%$ discount $=$ $\frac{7200\times 80}{100}=5760$
Selling cost after $16\%$ discount $=$ $\frac{7200\times 84}{100}=6048$
Profit on chair $=$ $6048-5760=288Rs$
$\%$ of profit $=$ $\frac{288\times 100}{5760}=5$ $\%$