The sale price of an article, including the sales tax is Tk. 616. The rate of sales tax is 10%. If the shopkeeper has made a profit of 12% then the cost price of the article is
Solution
Correct Answer: Option A
Let,
Cost price be x.
Selling price = x + 12% of x
= x + (12x/100)
= 28x/25
ATQ,
(28x/25) + 10% of (28x/25) = 616
⇒ (28x/25) + (280x/2500) = 616
⇒ (28x/25) + (14x/125) = 616
⇒ (140x + 14x)/125 = 616
⇒ 154x = 77000
∴ x = 500
∴ Cost price tk. 500.
Cost price be x.
Selling price = x + 12% of x
= x + (12x/100)
= 28x/25
ATQ,
(28x/25) + 10% of (28x/25) = 616
⇒ (28x/25) + (280x/2500) = 616
⇒ (28x/25) + (14x/125) = 616
⇒ (140x + 14x)/125 = 616
⇒ 154x = 77000
∴ x = 500
∴ Cost price tk. 500.
Practice More Questions on Our App!
Download our app for free and access thousands of MCQ questions with detailed solutions