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%