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April 16, 2014

April 16, 2014

Posted by **Anonymous** on Sunday, February 24, 2013 at 2:12pm.

after charging a sales tax of 5% on the printed price, he sells the article at rs.630. find the profit

- MATHS -SALES TAX -plse URGENT- -
**Lena**, Sunday, February 24, 2013 at 2:42pmThere are 3 things we must figure out in the this question.

1) What is the full price of this item + tax

2) What is the full price of this item

3) What is the price of this item with the 15% discount

4) Shopkeeper profit

For this whole problem let us assume that 'x' is equal to the full ticket price of the item:

1) rs. 630 (this is given to us in the question)

2) rs. 630 = 1.05(x)

rs. 630/1.05 = x

600 = x

Therefore the full ticket price of this item (with no tax) is rs. 600

3) price w/ 15% discount = 0.85(x)

- I got the 0.85 from 1.00-0.15 (if we're getting 15% off we are paying for 85% of the full price)

price w/ 15% discount = 0.85(600)

price w/ 15% discount = rs. 510

Therefore, the shopkeeper bought this item for rs. 510

4) Profit = Selling price - purchase price

Profit = 630-510

Profit = rs. 120

Therefore the shopkeeper made a rs. 120 profit.

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