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Question
A shopkeeper marks the price of a dress material 10% above his cost price and levies a sales tax of 8% on it. If a customer has to pay Rs 2,970 for the dress material, find the cost price of the dress material.
Solution
Let x be the cost price.
Marked pnce = x+ 10 % of x = Rs x + `10/100 xx x = "Rs" (11 x)/10`
Sales tax = 8 % of the marked price.
`= 8/100 xx "Rs" (11 x)/10`
= Rs `(88 x)/1000`
Therefore, total cost of dress material = marked price + sales tax
= `"Rs" (11 x)/10 + (88 x)/1000`
= Rs `(1188 x)/1000`
But, total price = Rs 2, 970
⇒ `(1188 x)/1000` = Rs 2970
⇒ x = Rs `(2970 xx 1000)/1188`
⇒ x = Rs 2500
Hence, the cost price of the dress material = Rs 2,500
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