Question

Kiran purchases an article for 5310 which includes 10% rebate on the marked price and 18% tax under GST on the remaining price. find the marked price of the article​

Answer 1

Answer:

Given; Selling Price of the article (S.P) = Rs. 5310

Let the Marked Price (M.P) of the article = x

Rebate: a partial refund to someone who has paid too much money for tax, rent, or a utility.

Given rebate = 10% of M.P

The rebate on the article = (10/100)x = (10x/100)

Price of the article after rebate = M.P - rebate

                                                =  x - (10x/100)

                                                = (100x - 10x)/100

                                                = 90x/100

                                                = 0.9x

Tax is applied on the article price after the rebate.

Tax = 18% of (Price after rebate)

      = (18/100) * 0.9x

      = 0.18 * 0.9x

      = 0.162x

The Selling Price (S.P) of the article = Price of the article after rebate + Taxes applicable

                                                         = 0.9x + 0.162x

                                                         = 1.062x

Given S.P = 5310

=> 1.062x = 5310

           x = 5310/1.062

           x = Rs 5000

Therefore, the M.P of the article = Rs 5000

Answer 2

Answer:

The Marked price of the article is Rs 5000

Step-by-step explanation:

Let M be the marked price of the article

Given the rebate on the marked price = 10%

=> Price after rebate = M - 10M/100 = 0.9M

Tax under GST = 18%

This tax will be applied on the price after rebate

=> Tax = 0.18 x 0.9M

= 0.162M

Hence the net selling price will be (Price after rebate + Tax)

=> = 0.9M + 0.162M = 5310

=> 1.062 M = 5310

=> M = 5310/1.062 = 5000

Hence the Marked price of the article is Rs 5000