A shopkeeper allows equal discount to sell the article in his shop. The
marked price of the Jacket is Rs.5000 and he sells it at Rs.4000 with
certain discount. The marked price of the T-shirt is Rs.1000. At what
price does the shopkeeper sell the T-shirt at same rate of discount? How
much does a customer pay to buy the T-shirt with 13% VAT?
Answers
Discount is a reduction given on marked price.
Discount = Marked Price – Sale Price (S.P.)
• Discount can be calculated when discount percentage is given.
Discount = Discount % of Marked Price
• Additional expenses made after buying an article are included in
the cost price and are known as overhead expenses.
cost price = buying price + overhead expenses
• Sales Tax is charged on the sale of an item by the government and
is added to the Bill Amount.
Sales tax = Tax% of sale amount
These days, however, the selling prices (known as MRP) include
the tax known as VAT (Value Added Tax).
• The interest compounded annually is the interest calculated on
the previous year’s amount A, (A = P + I).
• The time period after which the interest is added each time to form
a new principal is called the conversion period.
• When the interest is compounded half yearly, there are two
conversion periods in a year of duration 6 months each.
• Amount when interest is compounded annually is
n R A P1
100
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