Marked price is of an article is 3500and rate of gst is 12 percent. Shopkeeper allows a discount of 20 percent and still makes a profit of 10 percent. Find original cost price of article and selling price including gst.
Answers
Hey!!
Marked price : 3500
Discount = 20%
Discount = ( 20 ÷ 100 ) × 3500
Discount = ( 3500 ÷ 5 )
Discount = 700
Selling price of the article = 3500 - 700
Selling price = 2800
Now, find the cost price
Let the cost price be ' x '
Profit = 10%
Which is 10% of cost price
= ( 10 ÷ 100 ) × ( x )
= ( x ÷ 10 ) = profit
Now, we use the formula ,
Selling price = Cost price + profit
⇒ 2800 = x + ( x ÷ 10 )
LCM = 10
⇒ 2800 = ( 11 x ÷ 10 )
⇒ 28000 = 11x
⇒ x = Rs. 2545.45
Cost price = 2545.45
GST = 12%
⇒ 2800 + ( 12 ÷ 100 ) ( 2800 )
⇒ 2800 + ( 12 ) ( 28 )
⇒ 2800 + 336
⇒ Selling price with GST = Rs.3136
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Marked price = 3500
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STEP 1: Find price after discount:
Discount = 20% x 3500 = 0.2 x 3500 = 700
Price after discount = 3500 - 700 = 2800
The Selling Price is 2800
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STEP 2: Find cost price
Percentage of selling price = 100 + 10 = 110%
110% = 2800
1% = 2800 ÷ 110 = 280/11
100% = 280/11 x 100 = 2545.45
The cost price is 2545.45
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STEP 3: Find Selling Price including GST
GST = 12% x 2800 = 0.12 x 2800 = 336
Price including GST = 2800 + 336 = 3136
Selling Price including GST = 3136
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Answer: The original price is 2545.45. The selling price including GST is 3136.