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A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%? 

A shopkeeper is selling an article at a discount of 12% on the marked price. A customer buys the article by paying Rs. 3360, including 8% of sales tax on the marked price, such that the shopkeeper earns a profit of 23.2%. How much a customer will have to pay for the article if the sales tax increased by 25% and the shopkeeper increased his profit by 50%?  Correct Answer Rs. 3720

Formula Used:

Cost price = (Selling price × 100)/(100 + profit%)

Calculation:

Selling price of article = Marked price - 12% of Marked price

⇒ SP = 88% of MP

Price paid by customer = Selling price + 8% of Marked price

⇒ Price paid by customer = 88% of MP + 8% of MP

⇒ 3360 = 96% of MP

⇒ MP = (3360 × 100)/96 = Rs. 3500

⇒ SP = (88/100) × 3500 = Rs. 3080

But, the shopkeeper earns a profit of 23.2%,

⇒ Cost price of article = (3080 × 100)/123.2 = Rs. 2500

⇒ Profit earned = 23.2% of 2500 = Rs. 580

Now,

When the profit of shopkeeper increases by 50% and sales tax increases by 25%,

⇒ Increased profit of shopkeeper = 150% of 580 = Rs. 870

⇒ New selling price of article = 2500 + 870 = Rs. 3370

⇒ Increased sales tax = 125% of 8 = 10%

∴ New price of article = New selling price + 10% of MP = 3370 + 10% of 3500 = 3370 + 350 = Rs. 3720

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