Question

A shopkeeper sells an article at its marked price of Rs.25,000 and charges GST at the rate of 12% from the customer. If the tax paid by the shopkeeper to the government is Rs. 600, calculate the shopkeeper's cost price including GST.

Answer 1

Answer:

4. A shop selling sewing machines offers 3% discount on all cash purchases. What cash amount does a customer pay for a sewing machine the price of which is marked as Rs 650.

Solution:

Given,

MP = Rs 650

Discount = 3%

So, 3% of MP = 3/100 × 650

= Rs 19.5

MP = MP – discount

= 650 – 19.5

= Rs 630.5

∴ Customer has to pay Rs 630.50

Step-by-step explanation:

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Answer 2

The cost price of the article including GST is Rs. 27400 + Rs. 3000 = Rs. 30400.

The marked price of the article is Rs.25,000, and GST is charged at the rate of 12%, which means the tax amount paid by the customer is:

12% of 25000 = (12/100) * 25000 = Rs. 3000

This tax amount of Rs. 3000 includes the GST amount and the actual cost of the article.

So we can calculate the cost price of the article before the GST was added by subtracting the GST amount from the total amount paid by the customer:

Total amount paid by the customer = Marked price + GST

25000 + 3000 = Rs. 28000

Now we can calculate the cost price of the article before the GST was added by subtracting the tax amount paid by the shopkeeper to the government from the total amount paid by the customer:

Cost price before GST = Total amount paid by the customer - Tax paid by the shopkeeper

= Rs. 28000 - Rs. 600

= Rs. 27400

Therefore, the cost price of the article including GST is Rs. 27400 + Rs. 3000 = Rs. 30400.

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