A shopkeeper sells a washing Machine on the discount of 17% of the print price and gains 20% if the print price was 25,000 rs. then what was the cost price?
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A shopkeeper buys an article whose list price is Rs.8000 at some rate of discount from the 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 pays a tax (under GST) of 72 to the State Government, find the rate of discount at which he bought the article from the wholesaler.
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Solution
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Step 1:
Given:
List price of an article =Rs.8000
Let the rate of discount given by wholesaler =x%
Step 2:
We need to find the rate of discount at which article was bought from the wholesaler
Step 3:
So,
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, %he required rate of discount =10