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
10th Grade Math
From Worksheet on Profit/Loss Involving Sales Tax to HOME PAGE
Didn't find what you were looking for? Or want to know more information about Math Only Math. Use this Google Search to find what you need.
Apr 18, 24 02:58 AM
Apr 18, 24 02:15 AM
Apr 18, 24 01:36 AM
Apr 18, 24 12:31 AM
Apr 17, 24 01:32 PM