An article is marked at ₹ 5000 and the rate of GST is 5%. A trader buys it at a discount and sells it to a customer at MP. If the trader pays 60 as GST to the Government, find (i) What per cent of discount does the trader get? (ii) The total money paid by the trader including tax to buy the article?
Answers
Given : An article is marked at ₹ 5000 and the rate of GST is 5%.
A trader buys it at a discount and sells it to a customer at MP. If the trader pays 60 as GST to the Government,
To find :
(i) What per cent of discount does the trader get?
(ii) The total money paid by the trader including tax to buy the article?
Solution:
Trade pay Rs 60 as GST
Amount at which GST paid is Equal to Discount Tader has got
GST = 5 %
= (5/100) Discount = 60
=> Discount = 1200
% of discount = (1200/5000) * 100
= 24 %
MP = 5000
Discount = 1200
Price = 5000 - 1200 = 3800
GST = (5/100)3800 = 190
Amount Paid by trader including GST = 3800 + 190 = 3990
Discount trader get = 24 %
total money paid by the trader including tax to buy the article = Rs 3990
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