A shopkeeper buys an article at a discount of 30% on the printed price. He spend

Question

A shopkeeper buys an article at a discount of

30 %

on the printed price. He spends ₹40 on transportation of the article. After charging goods and service tax at the rate of

7 %

on the printed price, he sells the article for ₹ 856. Find his profit percentage.

Options:

A . 3312%

B . 3513%

C . 3918%

D . 3313%

Answer: Option D
:
D
Let the printed price of the article be

x

GST = 7 % of x = (\frac{7}{100}) \times x = \frac{7 x}{100}

Selling price = x + \frac{7 x}{100} = \frac{107 x}{100}

As per question,

\frac{107 x}{100} = ₹ 856

\Rightarrow x = \frac{856 \times 100}{107} = ₹ 800

Hence,

printed price = ₹ 800

Discount = 30% of ₹ 800

= (\frac{30}{100}) \times 800 = ₹ 240

Cost price of the article = 800 - 240 = ₹ 560

Overhead = cost of transportation = ₹ 40

Actual cost price = 560 + 40 = ₹ 600

GST is charged by the government on the sale of an item. It is collected by the shopkeeper from the customer and given to the government. Hence, while calculating profit we will not include GST amount.

Profit = Printed price - Actual cost price = 800 - 600 = ₹ 200.

Profit % = (\frac{profit}{cost price}) \times 100 = (\frac{200}{600}) \times 100

= \frac{100}{3} % = 33 \frac{1}{3} %

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