Question

A shopkeeper buys a dining table whose listed price is 40000 at some price of discount from a wholesaler. he sells the article to a consumer at the listed price and charges GSt at the rate of 12% if the sales are intrastate and shopkeeper has to pay tax of 48 to the state government find the rate of discount at which he bought the article from the wholesaler​

Answer 1

2% discount at which he bought the article from the wholesaler​

Step-by-step explanation:

List Price = 40000

Discount = x %  = (x/100)40000 = 400x

Selling Price  =  40000 - 400x

12 % GST

CGST = SGST = 6 %  =  (6/100)( 40000 - 400x)

= 6(400 - 4x)

= 2400 - 24x

Sold at 40000 to consumer

CGST = SGST = 6 %  =   (6/100)( 40000)  

= 2400

GST to be paid to state government  =  2400 - (2400 - 24x)

= 24x

24x  = 48

=> x = 2

2% discount at which he bought the article from the wholesaler​

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