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A Shopkeeper Sells an Article for Rs. 21,384 Including 10% Sales Tax. However, the Actual Rate of Sales Tax is 8%. Find the Extra Profit Made by the Dealer. - Mathematics

Sum

A shopkeeper sells an article for Rs. 21,384 including 10% sales tax. However, the actual rate of sales tax is 8%. Find the extra profit made by the dealer.

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Solution

Price of the article inclusive of sales tax = Rs. 21,384
Let y be the list price of the article
Rate of sales tax charged by the shopkeeper = 10%
According to the given statement, we have
21384 = y + y × `10/100`
⇒ `"y"="y"/10=21384`
⇒ `(11"y")/10=21384`
⇒ `"y"=(21384xx10)/11`
⇒ y = Rs. 19440
When the sales tax is 8%, the actual sale price
= `19440 + 19440 xx8/100`
= Rs. 20,995.2
Extra profit = Sale price of the article charged by shopkeeper − Actual sale price
⇒ Extra profit = Rs. 21,384 - Rs. 20.995.2 = Rs. 388.80

Concept: Goods and Service Tax (Gst)
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APPEARS IN

Selina Concise Mathematics Class 8 ICSE
Chapter 8 Profit, Loss and Discount
Exercise 8 (E) | Q 9 | Page 101
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