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Class 10 > A shopkeeper buys an article at a rebate of 30% on...
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A shopkeeper buys an article at a rebate of 30% on the printed price. He spends Rs 40 on the transportation of the article. After charging sales tax at the rate of 7% on the printed price, he sells the article for Rs. 856. Find his profit percentage?

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Let the Printed Price = Rs. P Shopkeeper buys at rebate of 30% Hence Cost price for Shopkeeper = Rs. 0.7*P Spends for transportation = Rs. 40 Now his cost price -- Rs. 0.7*P + 40 Now his final selling price = Rs. 856 Sales Tax charged at 7% on Printed Price Hence Sales Tax = 0.07*P Thus Selling Price...
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Let the Printed Price = Rs. P Shopkeeper buys at rebate of 30% Hence Cost price for Shopkeeper = Rs. 0.7*P Spends for transportation = Rs. 40 Now his cost price – Rs. 0.7*P + 40 Now his final selling price = Rs. 856 Sales Tax charged at 7% on Printed Price Hence Sales Tax = 0.07*P Thus Selling Price = Printed Price + Sales Tax 856 = P + 0.07P 856 = ( 1 + 0.07) * P 856 = 1.07 * P Thus, P = 856 / 1.07. P = Rs. 800 Cost Price for Shopkeeper = 0.7*P + 40 0.7 * 800 + 40 560 + 40 Rs. 600 Hence, the Profit the shopkeeper has made is 800 – 600 = Rs. 200 Thus, Profit percentage = Profit / Printed Price =200/800 =1/4 = 0.25 = 0.25 * 100 = 25%. read less
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Let the Printed Price = Rs. P Shopkeeper buys at rebate of 30% Hence Cost price for Shopkeeper = Rs. 0.7*P Spends for transportation = Rs. 40 Now his cost price -- Rs. 0.7*P + 40 Now his final selling price = Rs. 856 Sales Tax charged at 7% on Printed Price Hence Sales Tax = 0.07*P Thus Selling...
read more
Let the Printed Price = Rs. P Shopkeeper buys at rebate of 30% Hence Cost price for Shopkeeper = Rs. 0.7*P Spends for transportation = Rs. 40 Now his cost price – Rs. 0.7*P + 40 Now his final selling price = Rs. 856 Sales Tax charged at 7% on Printed Price Hence Sales Tax = 0.07*P Thus Selling Price = Printed Price + Sales Tax 856 = P + 0.07P 856 = ( 1 + 0.07) * P 856 = 1.07 * P Thus, P = 856 / 1.07. P = Rs. 800 Cost Price for Shopkeeper = 0.7*P + 40 0.7 * 800 + 40 560 + 40 Rs. 600 Hence, the Profit the shopkeeper has made is 800 – 600 = Rs. 200 Thus, Profit percentage = Profit / Printed Price =200/800 =1/4 = 0.25 = 0.25 * 100 = 25%. read less
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