Question

Vipin bought an article for rs 400 which includes a discount of 8% on the marked price and rate of GST 5% on the reduced price. Find the market price of the article.​

Answer 1

The market price of the article is Rs.414

Explanation:

Given:  

Vipin bought an article for Rs.400 which includes a discount of 8% on the marked price and rate of GST 5% on the reduced price.  

To find:  

Find the market price of the article.

Solution:

Price of the article = Rs.400. Let the market price be x.

Discount given = 8%, therefore 92% of x is the price after discount.

GST = 5% on the reduced price, hence $5 \% \times 92 \% \times x=\frac{5}{100} \times \frac{92}{100} \times x$

$\mathrm{GST}=\frac{23 x}{500}$

$\begin{array}{l}{\text { Price }=\frac{23 x}{500}+\frac{92 x}{100}} \\ \\{=\frac{23 x}{500}+\frac{460 x}{500}} \\ \\{400=\frac{483 x}{500}}\end{array}$

Market price = Rs.414

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Answer 2

The market price of the article is Rs.414.078

Step-by-step explanation:

Let the market price be x

Discount % = 8 %

So, Discounted price = $x-8\%x=x-\frac{8}{100}x=x-0.08x=0.92x$

Now we are given that rate of GST 5% on the reduced price.

So, Cost including GST = $0.92x+5\% \times 0.92x=0.92x+\frac{5}{100} \times 0.92x=0.966x$

We are given that Vipin bought an article for rs 400

So,$0.966x=400$

$x=\frac{400}{0.966}$

x=414.078

Hence the market price of the article is Rs.414.078

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