2.7: A shopkeeper buys an article for Rs.800 from a wholesaler at a discount of 20% on the list
He marks up the list price by 10% & then sells it at Rs.1,155 which includes GST on the marl
price. Find:
(l): the rate of GST.
(i): the profit percentage for shopkeeper.
Answers
Answer:
Step-by-step explanation:
Let the list price of the article is=Rs.x
Discount =20% on list price
Shopkeeper buys an article for Rs.800 from wholesaler at discount 20% on list price
∴x− 20 % of x = 800
=x− 20x/100 =800
= 80x/100 =800
=x= 800×100 /80
=Rs.1000
Shopkeeper raised the list price 10% then marked-up price
= 1000 + 10% of 1000
=1000+ 10 ×1000 /100
=1000+100=Rs.1100
(i)Rate of sales tax
shopkeeper sell the article Rs.1155 including sales tax on marked-up price
Let the rate of sales tax is y%
∴1100 + y % of 1100 = 1155
=1100+ y × 1100 / 100=1155
=11y +1100 = 1155
=11y=1155 - 1100
= 11y = 55
⇒y= 55 /11
= y = 5 %
(ii)Shopkeeper's profit percent
Shopkeeper buys the article=Rs.800
He sell the article=Rs.1100
Profit=1100−800=Rs.300
Profit %= 300 / 800 ×100
=37.5%
Answer:
the above solution is correct
Step-by-step explanation: