The marked price of a chair is Rs 550 and a discount of 20% is given on it. What is the selling price (in Rs)?

Options

A. 440
B. 430
C. 470
D. 390

Answer

To find the selling price of the chair after applying the discount, we can follow these steps:

### Step 1: Identify the Marked Price and Discount Rate
The marked price (MP) of the chair is given as Rs 550, and the discount rate is 20%.

### Step 2: Calculate the Discount Amount
To find the discount amount, we use the formula:
\[ \text{Discount Amount} = \text{Marked Price} \times \left(\frac{\text{Discount Rate}}{100}\right) \]
Substituting the values:
\[ \text{Discount Amount} = 550 \times \left(\frac{20}{100}\right) = 550 \times 0.20 = 110 \]

### Step 3: Calculate the Selling Price
The selling price (SP) can be calculated using the formula:
\[ \text{Selling Price} = \text{Marked Price} - \text{Discount Amount} \]
Substituting the values:
\[ \text{Selling Price} = 550 - 110 = 440 \]

### Final Answer
The selling price of the chair is Rs 440.

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