Question 77

A shopkeeper marked the price of an article 12.5% more than its cost price. Mr. Sharma purchased the same article at a discount of 20% on the marked price of the article but also paid VAT of 12% on the discounted price. Mr. Sharma then gave the article to his cousin for Rs. 5200 and thereby earned a profit of 30% on the original cost price of the product. At what price did Mr. Sharma purchase the article from the shopkeeper ?

Solution

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For the shopkeeper, C.P. of article = $$\frac{100}{130} \times 5200 = Rs. 4000$$

=> Marked price of article

= $$\frac{112.5}{100} \times 4000 = Rs. 4500$$

For Mr. Sharma, discounted price of article

= $$\frac{80}{100} \times 4500 = Rs. 3600$$

$$\therefore$$ Actual C.P. of article

= $$3600 + (\frac{12}{100} \times 3600)$$

= $$3600 + 432 = Rs. 4032$$

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