Question

A retailer buys a washing machine from a manufacturer for rs. 50000. he marks the price of washing machine 40% above the cost price and sells it to a customer at 20% discount on the MRP. If the sales are intra-state and the rate of GST is 12% find
1. MRP of the washing machine
2. amount of GST paid by the dealer to the State Government

Answer 1

Answer:

Solution:

Solution:Gain = SP – CP = 500 – 450 = 50.

Solution:Gain = SP – CP = 500 – 450 = 50.Gain% = (50/450)*100 = 100/9 %

Answer 2

1. Market price  machine = Rs 70000/-

2.  GST paid  = Rs 6720/-

Step-by-step explanation:

cost price of machine  =  Rs 50000

Marked price = 50000 + 50000 * 40/100

                      = 50000 + 20000

                      = Rs 70000/-

sells it to a customer at 20% discount on the MRP

                      = 70000 - 70000 *20/100

                       70000-14000

                      = Rs  56000/-

Amount of GST paid by the dealer to the State Government

                     = 56000 * 12/100

                     = Rs 6720