## 1. A wholesaler in Lucknow buys a TV from the manufacturer in Agra for Rs. 25000. He marks the price of the TV 20% above his cost price

Question

1. A wholesaler in Lucknow buys a TV from the manufacturer in Agra for Rs. 25000. He marks
the price of the TV 20% above his cost price and sells it to a retailer in Jhansi at a 10%
discount on the marked price. If the rate of GST is 8%, find the (i) marked price (ii) retailer’s
cost price inclusive of GST (iii) GST paid by the wholesaler

in progress 0
1 month 2021-08-14T11:53:12+00:00 1 Answer 0 views 0

1. (i) Cost price for wholesaler =Rs.25,000

Marked price =Rs.25,000 + 20/100 × Rs.25,000

=Rs.30,000

(ii) Discount =10% of 30,000=Rs.3,000

Cost price for retailer = Marked price − Discount

=Rs.30,000−Rs.3,000

=Rs.27,000

Cost price inclusive tax =Rs.27,000+ 8/100 × Rs.27,000

=Rs.29,160

iii) Cost price for wholesaler =Rs 25,000

Sale price for wholesaler =Rs.27,000

Profit for wholesaler = ?

Rs.27,000−Rs 25,000=Rs.2,000

GST = 8/100 × Rs.2,000