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An article costs Rs. 18500 without GST. Initially, the GST rate on the article was 28%, but was later reduced to 12%. By how much percentage was the price of the article with GST reduced after the reduction in rates?

An article costs Rs. 18500 without GST. Initially, the GST rate on the article was 28%, but was later reduced to 12%. By how much percentage was the price of the article with GST reduced after the reduction in rates? Correct Answer 12.5%

Price of article without GST = Rs. 18500

When GST rate = 28%,

⇒ Price of article = 128% of 18500 = Rs. 23680

Similarly,

When GST rate = 12%,

⇒ Price of article = 112% of 18500 = Rs. 20720

⇒ Reduction in price of article = 23680 – 20720 = Rs. 2960

∴ Percentage reduction in price of article = (2960/23680) × 100 = 12.5%

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