A Shopkeeper buys an article for Rs.2400 from a wholesaler at 20% rebate on its list price.He marka up the list price of the article bought by 10% and then sells it up for Rs.3498 including sales tax on the marked up price.Find:
(i)The rate of the sales tax
(ii)The shopkeeper's profit as %

Asked by sreenivasanmaralapadu | 20th May, 2015, 08:45: PM

Expert Answer:

S h o p k e e p e r space b u y s space a n space a r t i c l e space a t space R s.2400 space a f t e r space 20 % space r e b a t e L e t space x space b e space t h e space l i s t space p r i c e space o f space t h e space a r t i c l e. T h u s comma x minus space 20 over 100 cross times x equals 2400 rightwards double arrow x cross times 4 over 5 equals 2400 rightwards double arrow x equals 2400 cross times 5 over 4 rightwards double arrow x equals 3000 10 % l i s t space p r i c e equals M a r k u p space p r i c e rightwards double arrow M a r k u p space p r i c e equals 3000 plus 10 over 100 cross times 3000 rightwards double arrow M a r k u p space p r i c e equals 3000 plus 300 equals 3300 S e l l i n g space p r i c e space o f space t h e space a r t i c l e space i s space 3498 T h u s comma space s a l e s space t a x equals 3498 minus 3000 equals 198 left parenthesis i right parenthesis T h e space r a t e space o f space s a l e s space t a x equals 198 over 3000 cross times 100 equals 6.6 % left parenthesis i i right parenthesis S h o p k e e p e r apostrophe s space p r o f i t equals 3300 minus 2400 equals 900 P r o f i t % equals 900 over 2400 cross times 100 equals 37.5 %

Answered by Vimala Ramamurthy | 21st May, 2015, 11:26: AM

Queries asked on Sunday & after 7pm from Monday to Saturday will be answered after 12pm the next working day.