Question

The selling price of a book, including the sales tax, is Rs.956.34. The rate of sales tax is 10%. If the shopkeeper has made a profit of 15%. then the cost price of the book is:
1. Rs.756
2. Rs.836
3. Rs.845.98
4. Rs.797.34

Answer 1

Correct Answer - Option 1 : Rs.756

Given:

The selling price of a book, including the sales tax, is Rs.956.34

The rate of sales tax is 10%.

The shopkeeper made a profit of 15%.

Calculation:

Let the actual selling price be x

⇒ x + 10% x = 956.34

⇒ x + 10(x)/100 = 956.34

⇒ x + x/10 = 956.34

⇒ 11x/10 = 956.34

⇒ x = (956.34 × 10)/11

⇒ x = 869.4

Now let CP be 100

⇒ Profit % = 15%

⇒ SP = 100 × 115/100

⇒ SP = 115

⇒ 115 = 869.4

⇒ 1 = 869.4/115

⇒ CP = 100 × 869.4/115

⇒ CP = 756

∴ The cost price of a book is Rs.756.