**Core Concept**
Gastric ulcers are mucosal defects in the gastric lining, often associated with Helicobacter pylori infection, nonsteroidal anti-inflammatory drugs (NSAIDs), or stress. Chronic gastric ulcers can lead to complications due to prolonged mucosal damage and impaired healing.

**Why the Correct Answer is Right**
The most common complication of chronic gastric ulcers is bleeding. This occurs when the ulcer erodes through the mucosa and into a blood vessel, leading to hemorrhage. The pathophysiology involves the ulcer's penetration through the muscularis mucosae and into the submucosa, where blood vessels are located. The erosion of these vessels results in bleeding, which can be life-threatening if not promptly treated.

**Why Each Wrong Option is Incorrect**
**Option A:** Gastric outlet obstruction is a complication of gastric ulcers, but it is less common than bleeding. It occurs when the ulcer causes scarring and narrowing of the pyloric channel, leading to gastric outlet obstruction.
**Option B:** Perforation is another complication of gastric ulcers, but it is less common than bleeding. It occurs when the ulcer erodes through the gastric wall, leading to leakage of gastric contents into the peritoneal cavity.
**Option C:** Malignancy is a potential complication of gastric ulcers, but it is rare. Chronic inflammation and scarring can increase the risk of gastric cancer, but this is not the most common complication.

**Clinical Pearl / High-Yield Fact**
The "lethal triad" of gastric ulcer complications includes hypovolemic shock, metabolic acidosis, and coagulopathy. This occurs when bleeding from a gastric ulcer leads to hypovolemic shock, which in turn causes metabolic acidosis and coagulopathy.

**Correct Answer:** B. Perforation