Question

The Marked price of an article is rupees 3500 and rate of GST is 12 percent. A shopkeeper allows a discount of 20 percent and still makes a profit of 10 percent. find the original cost price of the article and the selling price including GST

Answer 1

M.p=3500
vat=8%
discount=20%
profit=10%
vat=8% of 3500
8/100*3500
280
m.p. after including vat=3780
discount=20%of 3780
20/100*3780
756
m.p after discount=3024
10/100*x+x=3024
x=2749.9ans

Answer 2

Marked Price = Rs 3500

Find the discounted price:

20% discount = 20% x Rs 3500 = 0.2 x 3500 = Rs 700

Discounted Price = 3500 - 700 = Rs 2800

Find the selling price with GST:

12% GST = 12% x Rs 2800 = 0.12 x 2800 = Rs 336

Selling Price = 2800 + 336 = Rs 3136

Find the cost price:

Profit = 10%

Selling Price = 100 + 10 = 110%

Selling Price = Rs 2800

110% = Rs 2800

1% = 2800 ÷ 110 = 280/11

100% = 280/11 x 100 = Rs 2545.45

Answer: The selling price with GST = Rs 3136 and the cost price is Rs 2545.45