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A broadband provider marks up the cost price of an internet plan by 50% and offers a discount of 20%. He asks the customer to pay GST of 18% on the selling price. The customer refuses to pay the tax due to which the provider himself pays the GST. Find his profit or loss percentage.1. \(2\frac{3}{5}\%\) Loss2. \(1\frac{3}{5}\%\) Profit3. \(2\frac{3}{5}\%\) Profit4. No profit no loss5. \(1\frac{3}{5}\%\) Loss |
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Answer» Correct Answer - Option 5 : \(1\frac{3}{5}\%\) Loss Given: Provider marks up 50% above the CP Discount % = 20% GST = 18% Concept used: Loss = CP – SP Loss% = {(CP – SP)/CP} × 100 CP = cost price SP = selling price MP = marked price Calculation: Let CP of internet plan be 2x MP = 2x × 150% = 3x SP = 3x × 80% = 12x/5 According to the question, The provider has paid GST of 18% on SP So, Actual amount got by the provider = 12x/5 × 82/100 ⇒ 492x/250 Loss = {2x – (492x/250)} ⇒ (500x – 492x)/250 ⇒ 8x/250 Loss percentage = {(8x/250)/2x} × 100 ⇒ (8x/500x) × 100 ⇒ 8/5 ⇒ \(1\frac{3}{5}\%\) ∴ Required loss percentage is \(1\frac{3}{5}\%\) |
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