MATHS -SALES TAX -plse URGENT-

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a shopkeeper buys an article at a discount of 15% on the printed price.
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- -

    There 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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