Question

The marked price of an article is 7500. A shopkeeper buys the article from a wholesaler
at some discount and sells it to a consumer at the marked price. The sales are intra-
state and the rate of GST is 12%. If the shopkeeper pays 90 as tax (under GST) to the
State Government, find:
(i) the amount of discount.
(ii) the price inclusive of tax (under GST) of the article which the shopkeeper paid
to the wholesaler.
​

Answer 1

(i) The amount of discount is 750.

(ii) The price inclusive of tax (under GST) of the article which the shopkeeper paid  to the wholesaler is 7560.

Step-by-step explanation:

Given:

The marked price of an article is 7500. A shopkeeper buys the article from a wholesaler  at some discount and sells it to a consumer at the marked price. The sales are intra- state and the rate of GST is 12%.

The shopkeeper pays 90 as tax (under GST) to the  State Government.

Now, to find (i) the amount of discount.

(ii) the price inclusive of tax (under GST) of the article which the shopkeeper paid  to the wholesaler.

Let the price of article at discount be $x.$

Marked price = 7500.

Rate of GST = 12%.

The shopkeeper pays tax = 90.

Now, to get the price of article at discount:

$12\%\ of\ (7500-x)=90$

$\frac{12}{100}\times (7500-x)=90$

$7500-x=90\times \frac{100}{12}\\\\7500-x=90\times 0.12\\\\7500-x=750\\\\7500-750=x$

$6750=x\\\\x=6750.$

The price of article at discount = 6750.

So, to get the discount we subtract the price of article at discount from marked price:

$7500-6750$

$=750.$

Now, to get the price inclusive of tax (under GST) of the article which the shopkeeper paid  to the wholesaler:

The price of article shopkeeper paid  to the wholesaler = 6750.

Rate of tax = 12%.

$12\%\ of\ 6750+6750$

$=\frac{12}{100}\times 6750+6750$

$=0.12\times 6750+6750$

$=810+6750$

$=7560.$

Therefore, (i) the amount of discount is 750.

(ii) the price inclusive of tax (under GST) of the article which the shopkeeper paid  to the wholesaler is 7560.

Answer 2

Marked price = Rs. 7500

Tax paid by shopkeeper to state government = Rs. 90

So, total tax paid by shopkeeper under GST = Rs. 180

CP of consumer = Rs. 7500 +12/100 × 75

= Rs. 900 + 7500

= Rs. 8400

GST paid by shopkeeper = GST paid by consumer - tax paid by shopkeeper under GST

= 900 - 180

= Rs. 720

Amt. of GST the wholesaler gets = Rs. 720

Let CP of the shopkeeper = x

Therefore,

CP of shopkeeper = 12/100 × x = 720

x = (720 × 100) /12

x = 600

Therefore,

Discount = Rs. 1500

So,

The price inclusive of tax (under GST) of the article which the shopkeeper paid to the wholesaler.

Rs. 6000 + 6000 × 12/100

Rs. 6000 + 720

Rs. 6720 Ans