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Question
A shopkeeper buys on article whose list price is Rs. 450 at some rate of discount from a wholesaler. He sells the article to a consumer at the list price and charges sales tax at the rate of 6%. If the shopkeeper has to pay a VAT of Rs. 2.70, find the rate of discount at which he bought the article from the wholesaler.
Solution
Let the amount of discount be ₹ x.
As the Shopkeeper sells the article at the list price, the profit of the shopkeeper = ₹ x.
∴ The value of the article added by the shopkeeper = ₹ x.
⇒ 6% of ₹ x = ₹ 2·70
⇒ `(6)/(100) xx x` = 2·70
⇒ 6x = 270
⇒ x = 45.
∴ The amount of discount = ₹ 45
∴ Rate of discount = `(45/450 xx 100)`% = 10 %.
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