Math, asked by NININP5041, 1 year ago

A person purchases electronic items worth ₹ 2,50,000. The shopkeeper charges him a sales tax of 21% instead of 12%. The consumer does not realise that he has over paid. But after some time he finds that he has paid excess and asks the shopkeeper to return the excess money. The shopkeeper refuses and the consumer moves the consumer court. The court with due hearing orders the shopkeeper to pay the consumer the excess money paid by the way of sales tax, with an interest of 12% per annum. If the whole deliberation takes 8 months, what is the money that the consumer gets back?

Answers

Answered by mysticd
3
Solution :

i )Cost price of an

electronic item = Rs250000

sales tax ( t ) = 12%

Selling price ( s.p ) = c.p [ ( 100+t )/100 ]

= 250000×[(100+12)/100]

= 2500 × 112

= Rs 280000 ------( 1 )

ii ) But , Shopkeeper charged wrong

sales tax , then

Wrong sales tax ( t ) = 21%

new selling price = c.p[ (100+t)/100]

= 250000×[(100+21)/100]

= 2500 × 121

= Rs 302500 -----( 2 )

iii )Excess amount paid by Consumer

= ( 2 ) - ( 1 )

= Rs 302500 - Rs 280000

= Rs 22500

iv ) After Court hearing , Shopkeeper

paid the amount to the consumer :

Principal ( P ) = Excess amount paid

= Rs 22500

Rate of interest ( r ) = 12%

Time ( t ) = 8 months = 8/12 years

t = 2/3 years

Let the amount consumer gets back = A

A = p[ 1 + (tr )/100 ]

=> A = 22500×{ 1 + [2/3 )×12]/100 }

= 22500× [ 1 +8/100 ]

= 22500 × ( 108/100 )

= 225 × 108

= Rs 24300

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