Problema Solution
a trader buys an article for Rs.1700 at a discount of 15% on its printed price .he raises the printed price of the article by 20% and then sells it for Rs.2688 including sales tax on the new marked price.find:
i)the rate of sales tax
ii)the traders profit as percent
Answer provided by our tutors
1700 is 85% so, 2000 is the printed price.
20% increase = 2400 is new printed price.
So, tax = 2688-2400 = 288.
So, Rate of sales tax = 12%.
Traders profit = (2400 -1700)*100/1700 = 700/17 or 41.18%