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Question

A shopkeeper buys an article at a rebate of 20% on the printed price. He spends Rs. 40 on transportation of the article. After charging a sales tax of 7% on the printed price, he sells the article for Rs. 1,070. Find his gain as per cent.

A
4116%
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B
11113%
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C
14120%
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D
19121%
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Solution

The correct option is B 19121%
Let printed price of the article be Rs. x
According to the given statement:
x(100+7100)=1070
x=1000
Printed price of the article =Rs.1,000
Given, that the shopkeeper buys the article at 20% rebate
For the shopkeeper, C.P. of the article =Rs.1,00020% of Rs. 1,000=Rs.800
Since, he spends Rs. 40 on the transportation of the article
Total (actual) cost price =Rs.800+Rs.40=Rs.840
The selling price (excluding sales tax) = Printed price=Rs.1,000
Profit =Rs.1,000Rs.840=Rs.160
And, Profit %=160840×100%
=19121%

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