The problem asks for the price at which the shopkeeper bought the shirts from the producer. We are given the final price paid by the customer, the tax rate, and the shopkeeper's profit percentage.
Calculate Selling Price Before Tax
The customer pays ₹3,186.00, which includes an 18% tax. Let the selling price before tax be denoted by $SP_{no\_tax}$.
The final price is calculated as: $SP_{no\_tax} \times (1 + \text{Tax Rate})$
Therefore, $SP_{no\_tax} \times (1 + 0.18) = 3186.00$
$SP_{no\_tax} \times 1.18 = 3186.00$
To find the selling price before tax:
$SP_{no\_tax} = \frac{3186.00}{1.18} = 2700.00$
So, the shopkeeper's selling price (before tax) was ₹2,700.00.
Determine Purchase Price
The shopkeeper sells the shirts at a 20% profit. This means the selling price ($SP_{no\_tax}$) is 20% higher than the purchase price ($CP$).
The relationship is: $CP \times (1 + \text{Profit Rate}) = SP_{no\_tax}$
$CP \times (1 + 0.20) = 2700.00$
$CP \times 1.20 = 2700.00$
To find the purchase price:
$CP = \frac{2700.00}{1.20} = 2250.00$
The shopkeeper bought each shirt from the producer for ₹2,250.00.
Final Answer Summary
- Selling Price including 18% tax = ₹3,186.00
- Selling Price before tax = ₹2,700.00
- Shopkeeper's Profit = 20%
- Shopkeeper's Purchase Price = ₹2,250.00
Important Questions from Profit and Loss
Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?
An article was sold at a loss of 24%. If it were sold for Rs. 1,596 more, then there would have been a gain of 18%, The cost price of the article is:
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
If the selling price of 7 articles is equal to the cost price of 6 articles, then what is the percentage loss?
An article when sold at a gain of 5%, yields Rs. 15 more than when sold at a loss of 5%. The cost price will be
