Cost of an article including sales tax is Rs., 616 . rate of sales tax is 10 % , if shopkeeper has m

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7.Profit and Loss

hard

The cost of an article including the sales tax is $Rs.\, 616$. The rate of sales tax is $10 \%$, if the shopkeeper has made a profit of $12 \%$, then the cost price of the article is in $Rs.$?

A

$350$

B

$500$

C

$650$

D

$800$

Solution

$110 \%$ of $S P=616$ (Rate of sales tax $=10\%$)

$S P=\frac{616 \times 100}{110}= Rs. 560, C P=\frac{100 \times S P}{100+g a i n \%}$

$C P=\frac{100 \times 560}{100+12}=R s .500$

Standard 13

Quantitative Aptitude

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