Practice the questions given in the worksheet on profit/loss involving sales tax.

**1.** A shopkeeper buys an article at a distance of 20% on the listed price from a wholesaler. The shopkeeper marks up the price by 10% on the listed price. A buyer pays $ 231 to get it after paying a sales tax at the rate of 5% on the price asked for. Find the profit percentage.

**2.** A retailer buys an article at a commission of 10% on the listed price from a wholesale dealer. He marks up the price by 10%. Due to difficulty in selling it at the raised price, he announces a discount of 5% to the buyer. If the buyer purchases it at $ 451.44 inclusive of a sales tax of 8% on the price asked for then, find

(i) the listed price

(ii) the profit percentage for the retailer

**3.** A shopkeeper buys an article for $ 800 from a wholesaler
at a discount of 20% on the listed price. He marks up the listed price by 10%
and sells it at $ 1166 which includes a sales tax on the marked-up price.

(i) find the rate of sales tax.

(ii) Find the profit percentage for the shopkeeper.

**4.** A retailer buys an article from a wholesaler at a discount.
The retailer sells it at $ 1210 inclusive of a sales tax at the rate of 10% on
the listed price. If he makes a profit of 14% by selling it, find the rate of
discount the retailer received from the wholesaler.

Answers for the worksheet on profit/loss involving sales tax are given below.

**Answers:**

**1.** 37.5%

**2.** (i) $ 400

(ii) 16\(\frac{1}{9}\)%

**3.** (i) 6%

(ii) 37.5%

**4.** 12.28%

**● Sales Tax and Value Added Tax**

**Calculation of Sales Tax****Sales Tax in a Bill****Mark-ups and Discounts Involving Sales Tax****Profit Loss Involving Tax****Value Added Tax****Problems on Value Added Tax (VAT)****Worksheet on Printed Price, Rate of Sales Tax and Selling Price****Worksheet on Profit/Loss Involving Sales Tax****Worksheet on Sales Tax and Value-added Tax****Worksheet on Mark-ups and Discounts Involving Sales Tax**

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