Question

the Marked price of an article is rupees 3500 and the rate of vat is 8% A shopkeeper allows a discount of 20% and still makes a profit of 10% find the original cost price and the article and the selling price including VAT

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

Solution :-

Marked Price of the article = Rs. 3500

Discount = 20 %

Discount = 20 % of 3500

⇒ (3500*20)/100

⇒ Rs. 700

Selling price of the article = 3500 - 700

= Rs. 2800

Now, we have to find the cost price of the article.

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

Profit = 10 %

Profit = 10 % of Rs. x

= (x*10)/100

Profit = Rs. x/10

Selling price of the article = Cost price of the article + profit

⇒ 2800 = x/1 + x/10

Taking L.C.M. of the denominator and then solving it.

⇒ 11x/10 = 2800

⇒ 11x = 28000

⇒ x = Rs. 2545.45

Cost price of the article is Rs. 2545.45

Selling price including VAT = 2800 + (2800*8)/100

⇒ 2800 + 224

= Selling price including VAT = Rs. 3024

Answer.