A shopkeeper pays 12% of the cost price as tax while purchasing an ite

1.	A shopkeeper pays 12% of the cost price as tax while purchasing an item whose cost is Rs.500. He wants to earn a profit of 20% after giving a discount of 16% on the marked price. So, the marked price should be:1. Rs. 7802. Rs. 9603. Rs. 8404. Rs. 800
Answer» Correct Answer - Option 4 : Rs. 800 Given: CP of item = Rs.500 Tax payed on purchasing = 12% Profit % while selling = 20% Discount % given while selling = 16% Concept Used: Profit value = {(100 + % Profit)/100} × CP Discounted price = {100/(100 – % Discount)} × CP Calculation: CP = Rs.500 After-tax paid CP, ⇒ 112/100 × 500 ⇒ 560 He wants a profit of 20% The selling price should be, ⇒ 120/100 × 560 ⇒ Rs. 672 The discount he wants to give is 16%, ⇒ 100/84 × 672 ⇒ 800 ∴ The marked price of the article is Rs. 800.

A shopkeeper pays 12% of the cost price as tax while purchasing an item whose cost is Rs.500. He wants to earn a profit of 20% after giving a discount of 16% on the marked price. So, the marked price should be:1. Rs. 7802. Rs. 9603. Rs. 8404. Rs. 800

Answer» Correct Answer - Option 4 : Rs. 800

Given:
CP of item = Rs.500

Tax payed on purchasing = 12%

Profit % while selling = 20%

Discount % given while selling = 16%

Concept Used:

Profit value = {(100 + % Profit)/100} × CP

Discounted price = {100/(100 – % Discount)} × CP

Calculation:

CP = Rs.500

After-tax paid CP,

⇒ 112/100 × 500

⇒ 560

He wants a profit of 20%

The selling price should be,

⇒ 120/100 × 560

⇒ Rs. 672

The discount he wants to give is 16%,

⇒ 100/84 × 672

⇒ 800

∴ The marked price of the article is Rs. 800.

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