Question

A retailer marked up the price of his goods by 20% above the list price and offers two successive discount of 10%and 5%on the marked up price. Gst is @ 18% on the goods. Find the list price of goods if the consumer pays rs 4617 as cgst. Also find the final price consumer has to pay for the goods. Solution of this sum

Answer 1

Given:

A retailer marked up the price of his goods by 20% above the list price and offers two successive discount of 10%and 5%on the marked up price. Gst is @ 18% on the goods.  

To Find:

Find the list price of goods if the consumer pays rs 4617 as cgst. Also find the final price consumer has to pay for the goods. Solution of this sum

Solution :

From given, we have,

(A retailer marked up the price of his goods by 20%)

Markup = 20%

Let x be the cost price

Markup = 0.2x

Selling Price = x + 0.2x  = 1.2x

The price after 10% discount is given as,

Discount = 10%

Discount = 0.1(1.2x) = 0.12x

Price after discount = 1.2x - 0.12x = 1.08x

The price after 5% discount is given as,

Discount = 5%

Discount = 0.05(1.08x) = 0.054x

Price after discount = 1.08x - 0.054x = 1.026x

Find the GST:

GST = 18%

GST = 0.18 (1.026x) = 0.18468x

Find the list price:

0.18468x = 4617

x = 4617/0.18468

x = $ 25000

The  price that the consumer has to pay is given as,

Amount to pay = 1.026x +  0.18468x = 1.21068x = 1.21068(25000) = $ 30267

Therefore, the list price of goods is $ 25000 and the consumer pays $ 30267

Answer 2

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