Tarun bought and article for Rs. 8000 and spent Rs. 1000 for transportation. He marked the article Rs. 11,700 and sold it to a customer. If the customer had to pay 10% sales tax, find:
(1) the customer’s price
(2) Tarun’s profit percent.
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Solution
Cost to Tarun = Rs. 8000 + Rs. 1000 = Rs. 9000
Marked Price = Rs. 11700
Sales Tax% = 10%
Sale Tax = `11700 xx 10/100 = Rs 1170`
1) The customer’s price = 11700 + 1170 = Rs. 12870
2) Profit = 11700 - 9000 = Rs 2700
Profit% = `(2700 xx 100)/9000 = 30%`
Concept: Computation of Tax
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