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A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?
- a)Rs. 3680
- b)Rs. 3720
- c)Rs. 3840
- d)Rs. 3960
- e)Rs. 4000
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
A shopkeeper is selling an article at a discount of 12% on the marked...
Given information:
- The shopkeeper is selling the article at a discount of 12% on the marked price.
- The customer pays Rs. 3360, including 8% of sales tax on the marked price.
- The shopkeeper earns a profit of 23.2%.
To find:
The amount the customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%.
Let's solve the problem step by step:
Step 1: Calculate the original marked price.
Let the original marked price be 'x'.
Discount = 12% of x = (12/100) * x
Selling price after discount = x - (12/100) * x = 0.88x
Step 2: Calculate the selling price including sales tax.
Given that the customer pays Rs. 3360, including 8% sales tax on the marked price.
Let the selling price inclusive of tax be 'y'.
Selling price inclusive of tax = y
Sales tax = 8% of x = (8/100) * x = 0.08x
Selling price excluding tax = y - 0.08x
Step 3: Calculate the profit earned by the shopkeeper.
Profit = Selling price excluding tax - Cost price
Given that the shopkeeper earns a profit of 23.2%.
Profit = 23.2% of Cost price = (23.2/100) * Cost price
Cost price = Selling price excluding tax - Profit
Cost price = y - 0.08x - (23.2/100) * (y - 0.08x)
Step 4: Calculate the new selling price including increased sales tax and increased profit.
New sales tax = 8% + 25% of 8% = 8% + (25/100) * 8% = 0.08 + 0.02 = 0.10 = 10%
New profit = 23.2% + 50% of 23.2% = 23.2% + (50/100) * 23.2% = 23.2% + 11.6% = 34.8%
New selling price including tax = Selling price excluding tax + New sales tax
New selling price including tax = y - 0.08x + 0.10x = y + 0.02x
Step 5: Calculate the new Cost price.
New Cost price = Selling price excluding tax - New profit
New Cost price = y - 0.08x - (34.8/100) * (y - 0.08x)
Step 6: Calculate the new selling price.
New selling price = New Cost price + New profit
New selling price = y - 0.08x - (34.8/100) * (y - 0.08x) + (34.8/100) * (y - 0.08x)
Step 7: Calculate the new selling price inclusive of tax.
New selling price inclusive of tax = New selling price + New sales tax
New selling price inclusive of tax = [y - 0.08x - (34.8/100) * (y - 0.08x) + (34.8/100) * (y
- The shopkeeper is selling the article at a discount of 12% on the marked price.
- The customer pays Rs. 3360, including 8% of sales tax on the marked price.
- The shopkeeper earns a profit of 23.2%.
To find:
The amount the customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%.
Let's solve the problem step by step:
Step 1: Calculate the original marked price.
Let the original marked price be 'x'.
Discount = 12% of x = (12/100) * x
Selling price after discount = x - (12/100) * x = 0.88x
Step 2: Calculate the selling price including sales tax.
Given that the customer pays Rs. 3360, including 8% sales tax on the marked price.
Let the selling price inclusive of tax be 'y'.
Selling price inclusive of tax = y
Sales tax = 8% of x = (8/100) * x = 0.08x
Selling price excluding tax = y - 0.08x
Step 3: Calculate the profit earned by the shopkeeper.
Profit = Selling price excluding tax - Cost price
Given that the shopkeeper earns a profit of 23.2%.
Profit = 23.2% of Cost price = (23.2/100) * Cost price
Cost price = Selling price excluding tax - Profit
Cost price = y - 0.08x - (23.2/100) * (y - 0.08x)
Step 4: Calculate the new selling price including increased sales tax and increased profit.
New sales tax = 8% + 25% of 8% = 8% + (25/100) * 8% = 0.08 + 0.02 = 0.10 = 10%
New profit = 23.2% + 50% of 23.2% = 23.2% + (50/100) * 23.2% = 23.2% + 11.6% = 34.8%
New selling price including tax = Selling price excluding tax + New sales tax
New selling price including tax = y - 0.08x + 0.10x = y + 0.02x
Step 5: Calculate the new Cost price.
New Cost price = Selling price excluding tax - New profit
New Cost price = y - 0.08x - (34.8/100) * (y - 0.08x)
Step 6: Calculate the new selling price.
New selling price = New Cost price + New profit
New selling price = y - 0.08x - (34.8/100) * (y - 0.08x) + (34.8/100) * (y - 0.08x)
Step 7: Calculate the new selling price inclusive of tax.
New selling price inclusive of tax = New selling price + New sales tax
New selling price inclusive of tax = [y - 0.08x - (34.8/100) * (y - 0.08x) + (34.8/100) * (y
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Community Answer
A shopkeeper is selling an article at a discount of 12% on the marked...
Let the marked price be Rs 100.
Selling price of article = Marked price - 12% of Marked price
⇒ SP =100 - 100 × 12/100 = 88% of MP
Price paid by customer = Selling price + 8% of Marked price
⇒ Price paid by customer = 88% of MP + 8% of MP
⇒ 3360 = 96% of MP
⇒ MP = (3360×100)/96 = Rs. 3500
⇒ SP = 88/100 × 3500 = Rs. 3080
But, the shopkeeper earns a profit of 23.2%.
⇒ Cost price of article = (3080 × 100)/123.2 = Rs. 2500
⇒ Profit earned = 23.2% of 2500 = Rs. 580
Now, When the profit of shopkeeper increases by 50% and sales tax increases by 25%,
⇒ Increased profit of shopkeeper = 150% of 580 = Rs. 870
⇒ New selling price of article = 2500 + 870 = Rs. 3370
⇒ Increased sales tax = 125% of 8 = 10%
∴ New price of article = New selling price + 10% of MP
= 3370 + 10% of 3500
= 3370 + 350 = Rs. 3720
Hence, the correct option is (B).
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A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer?
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A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer?.
A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer?.
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A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer?, a detailed solution for A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?a)Rs. 3680b)Rs. 3720c)Rs. 3840d)Rs. 3960e)Rs. 4000Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Banking Exams tests.
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