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.
Answers
Answer:
discount =x% of Rs.8000
=
100
x
×Rs.8000
= Rs.80x
CP of an article for shopkeeper =Rs.8000−Rs.80x
It is given that , CP of article for consumer =Rs.8000
Since the sales are intra-state, rate of GST =18%
CGST=SGST=9%
Amount of GST paid by the shopkeeper to wholesaler
SGST=CGST =9% of (Rs.8000−Rs.80x)
=
100
9
×(Rs.8000−Rs.80x)
Amount of GST paid by the consumer to the shopkeeper
CGST=SGST =9% of Rs.8000
=
100
9
×Rs.8000=Rs.720
So, the tax paid by shopkeeper to state government
=Rs.720−
100
9
×(Rs.8000−Rs.80x)
Also, tax paid by the shopkeeper to state government =Rs.72
⇒72−720−
100
(9×80)
(100−x)
⇒720−72=
100
720
×(100−x)
⇒648=
10
72
(100−x)
⇒100−x=
72
(648×10)
⇒100−x=90
⇒x=100−90
⇒x=10
Hence, the required rate of discount =10%