Question

The marked price of an article is 3500 and rate if VAT is 8% . a shopkeeper allows a discount of 20% and still makes a profit of 10%.find the original price of the article and the selling price including VAT

Answer 1

Here M.P = Marked price
S.P=Selling price
C.P= Cost Price
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C.P of the article is Rs.2545.45(approx)
S.P including VAT=Rs.3024
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Hope this will help you......

Answer 2

Solution :-

Marked price of the article = Rs. 3500

Rate of discount = 20 %

Discount amount = (3500*20)/100

= Rs. 700

Selling price of the article = Marked price - Discount amount

S.P. = 3500 - 700

⇒ Selling price of the article = Rs. 2800

Let the cost price of the article be Rs 'x'

Profit percentage = 10 %

Profit = (x*10)/100

⇒ = Rs. x/10

Selling price the article = Cost price + profit

⇒ x + x/10

⇒ Selling price = 11x/10

Now, according to the question.

⇒ 2800 = 11x/10

⇒ 11x = 2800*10

⇒ 11x = 28000

⇒ x = 28000/11

⇒ x = 2545.45

Cost price of the article is Rs. 2545.45 

Selling price including VAT = 2800 + 8 % of Rs. 2800

⇒ 2800 + 224

⇒ 3024

So, the selling price including VAT is Rs. 3024

Answer.