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
To find the profit, we need to understand the cost price of the article and the selling price.
Let's break down the problem into steps:
Step 1: Calculate the cost price
The shopkeeper bought the article at a discount of 15% on the printed price. This means he paid only 85% of the printed price.
Let's assume the printed price of the article is P.
The cost price (C) of the article is given by:
C = P - (15/100) * P [as he gets a 15% discount]
Step 2: Calculate the selling price after sales tax
The shopkeeper sells the article at Rs. 630 after charging a sales tax of 5%. This means the selling price (S) includes the sales tax and is equal to 105% of the printed price.
Let's assume the printed price of the article is P.
The selling price (S) of the article is given by:
S = P + (5/100) * P [as he charges a 5% sales tax]
Step 3: Calculate the profit
Profit (Pft) can be determined by subtracting the cost price from the selling price.
Pft = S - C
Now, let's substitute the values we know into the above equations:
C = P - (15/100) * P
S = P + (5/100) * P
Pft = S - C
Since we know that S = Rs. 630, we can substitute this value in the equation:
Pft = 630 - C
Now we can combine the equations to find the profit.
To find the value of C, we can substitute the value of S into the equation for cost price:
C = P - (15/100) * P
Let's solve for C:
C = P - (15/100) * P
C = (100/100 - 15/100) * P
C = (85/100) * P
Now we can substitute this value of C into the profit equation:
Pft = 630 - C
Pft = 630 - (85/100) * P
So, the profit (Pft) can be expressed as:
Pft = 630 - (85/100) * P
Therefore, the profit can be calculated by substituting the appropriate values for P, C, and S into the equation provided.