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The cost price of 400 chairs is equal to the selling price of 320 chairs. What is the profit percentages?1. 15%2. 20%3. 25%4. 40% |
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Answer» Correct Answer - Option 3 : 25% Given: Cost price of 400 chairs = Selling price of 320 chairs Formula Used: Profit percentage = {(SP – CP)/CP} × 100 Calculation: Let CP of 1 chair be Rs. x CP of 320 chairs = Rs. 320x CP of 400 chairs = Rs. 400x SP of 320 chairs = Rs. 400x Profit percentage = (400x – 320x)/320x × 100 = 25% ∴ Profit% is 25% |
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