Question

The marked price of an article is rs 7500. A shopkeeper buys the article from a wholesaler at home discount and sells it to a consumer at the marked price. The sales are intra state and state of gst is 12%. If the shopkeeper pays rs 90 as tax of the state government, find :
(1) the amount of discount
(2)the price inclusive of tax (under GST) of the article which the shopkeeper paid to the wholesaler.

Answer 1

Hey Dear,

◆ Answer -

Discount = 6750 ₹

Price paid = 860 ₹

● Explaination -

Let x be the price of article shopkeeper paid to wholesaler.

GST paid is calculated by -

GST paid = Rate of GST × Value of article

90 = 12/100 × x

x = 90 × 100 / 12

x = 750 ₹

Amount of discount will be calculated as -

Discount = Marked price - Wholesale price

Discount = 7500 - 750

Discount = 6750 ₹

Price shopkeeper paid to wholesaler -

Price paid = 750 + 90

Price paid = 860 ₹

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