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A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs 680.40 as the price including the sales tax, what is the marked price of the item?
- a)Rs 630
- b)Rs 700
- c)Rs 780
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
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A shopkeeper allows a discount of 10% on the marked price of an item b...
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A shopkeeper allows a discount of 10% on the marked price of an item b...
Marked Price: The original price of the item before any discounts or taxes are applied.
Discount: The reduction in price given by the shopkeeper.
Sales Tax: The additional amount charged on the discounted price.
Let's solve the problem step by step:
Step 1: Calculate the discounted price
The shopkeeper allows a discount of 10% on the marked price. This means the customer only pays 90% of the marked price.
Discounted Price = Marked Price - (Discount % * Marked Price)
Discounted Price = Marked Price - (10/100 * Marked Price)
Discounted Price = Marked Price - 0.1 * Marked Price
Discounted Price = Marked Price - 0.1 * Marked Price
Discounted Price = Marked Price * (1 - 0.1)
Discounted Price = Marked Price * 0.9
Step 2: Calculate the price including sales tax
The shopkeeper charges a sales tax of 8% on the discounted price. This means the customer pays 108% of the discounted price.
Price Including Sales Tax = Discounted Price + (Sales Tax % * Discounted Price)
Price Including Sales Tax = Discounted Price + (8/100 * Discounted Price)
Price Including Sales Tax = Discounted Price + 0.08 * Discounted Price
Price Including Sales Tax = Discounted Price * (1 + 0.08)
Price Including Sales Tax = Marked Price * 0.9 * (1 + 0.08)
Price Including Sales Tax = Marked Price * 0.972
Step 3: Determine the marked price
According to the problem, the customer pays Rs 680.40 as the price including the sales tax.
Price Including Sales Tax = Marked Price * 0.972
Rs 680.40 = Marked Price * 0.972
Marked Price = Rs 680.40 / 0.972
Marked Price ≈ Rs 700
Therefore, the marked price of the item is Rs 700, which is option B.
Discount: The reduction in price given by the shopkeeper.
Sales Tax: The additional amount charged on the discounted price.
Let's solve the problem step by step:
Step 1: Calculate the discounted price
The shopkeeper allows a discount of 10% on the marked price. This means the customer only pays 90% of the marked price.
Discounted Price = Marked Price - (Discount % * Marked Price)
Discounted Price = Marked Price - (10/100 * Marked Price)
Discounted Price = Marked Price - 0.1 * Marked Price
Discounted Price = Marked Price - 0.1 * Marked Price
Discounted Price = Marked Price * (1 - 0.1)
Discounted Price = Marked Price * 0.9
Step 2: Calculate the price including sales tax
The shopkeeper charges a sales tax of 8% on the discounted price. This means the customer pays 108% of the discounted price.
Price Including Sales Tax = Discounted Price + (Sales Tax % * Discounted Price)
Price Including Sales Tax = Discounted Price + (8/100 * Discounted Price)
Price Including Sales Tax = Discounted Price + 0.08 * Discounted Price
Price Including Sales Tax = Discounted Price * (1 + 0.08)
Price Including Sales Tax = Marked Price * 0.9 * (1 + 0.08)
Price Including Sales Tax = Marked Price * 0.972
Step 3: Determine the marked price
According to the problem, the customer pays Rs 680.40 as the price including the sales tax.
Price Including Sales Tax = Marked Price * 0.972
Rs 680.40 = Marked Price * 0.972
Marked Price = Rs 680.40 / 0.972
Marked Price ≈ Rs 700
Therefore, the marked price of the item is Rs 700, which is option B.
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A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs 680.40 as the price including the sales tax, what is the marked price of the item?a)Rs 630b)Rs 700c)Rs 780d)None of theseCorrect answer is option 'B'. Can you explain this answer?
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A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs 680.40 as the price including the sales tax, what is the marked price of the item?a)Rs 630b)Rs 700c)Rs 780d)None of theseCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs 680.40 as the price including the sales tax, what is the marked price of the item?a)Rs 630b)Rs 700c)Rs 780d)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs 680.40 as the price including the sales tax, what is the marked price of the item?a)Rs 630b)Rs 700c)Rs 780d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs 680.40 as the price including the sales tax, what is the marked price of the item?a)Rs 630b)Rs 700c)Rs 780d)None of theseCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs 680.40 as the price including the sales tax, what is the marked price of the item?a)Rs 630b)Rs 700c)Rs 780d)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs 680.40 as the price including the sales tax, what is the marked price of the item?a)Rs 630b)Rs 700c)Rs 780d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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