A shopkeeper buys an article at a discount of $30 %$ on the printed price. He spends $R s . 40$ on transportation of the article. After charging goods and service tax (GST) at the rate of $7 %$ on the printed price, he sells the article for $R s . 856.$ Find his profit percentage.

$33 \frac{1}{2} %$

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$35 \frac{1}{3} %$

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$39 \frac{1}{8} %$

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$33 \frac{1}{3} %$

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Solution

The correct option is D: $33 \frac{1}{3} %$
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, $\frac{107 x}{100} = R s . 856$

$\Rightarrow x = \frac{856 \times 100}{107} = R s . 800$

Hence, Printed price $= R s . 800$

Discount $= 30 %$ of $R s . 800 = (\frac{30}{100}) \times 800 = R s . 240$

Cost price of the article $= 800 - 240 = R s . 560$

Overhead $=$ Cost of transportation $= R s . 40$

Actual cost price $= 560 + 40 = R s . 600$

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. Shopkeeper will only gain profit on selling price excluding GST.

Profit $=$ Printed price $-$ Actual cost price
$= 800 - 600 = R s . 200$

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

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

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A shopkeeper buys an article at a discount of 30% on the printed price. He spends Rs. 40 on transportation of the article. After charging goods and service tax (GST) at the rate of 7% on the printed price, he sells the article for Rs. 856. Find his profit percentage.

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