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Question

Reena goes to purchase a motorcycle which is priced at Rs 35, 640 including 10% as sales tax. However, the actual rate of sales tax at the time of purchase is 7%. Find the extra profit made by the shopkeeper if he still charges the original listed price.
[4 MARKS]


Solution

Formula: 1 Mark
Steps: 2 Marks
Answer: 1 Mark

Let M.P. be Rs x
then,                          35640=x+10% of x
               35640=1110x
               x = Rs 32, 400
Now, amount to be paid = Rs 32400 + 7% of Rs 32400
= Rs 32400 + Rs 2268 = Rs 34,668
Profit made by the shopkeeper = Rs (35640 - 34668) = Rs 972

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