A shopkeeper buys an article whose list price of Rs.8000 at some rate of discount from a wholesaler.He sells the article to a consumer at the list price.The sales are intra-state and the rate of GST is 18%. If the shopkeeper pay a tax (under GST) of Rs.72 to the State Government, find the rate of discount at which he bought the article from the wholesaler.
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Rate of discount = 5 % at which shopkeeper bought the article from the wholesaler.
Step-by-step explanation:
list price of article = Rs 8000
Discount Rate = x %
Discount = (x/100)8000 = 80x
Price after Discount = 8000 - 80x
18% GST = (18/100)(8000 - 80x)
Shopkeeper sells the article to a consumer at the list price
=> GST received = (18/100)8000
GST paid by shopkepper to government = (18/100)8000 - (18/100)(8000 - 80x)
= (18/100) * 80x
= 144x/10
144x/10 = 72
=> x = 720/144
=> x = 5
Rate of discount = 5 %
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