TAXATION FORMULAS AND KEYPOINTS. SALES TAX: tax Sales Tax% = 100. Amount to be paid (Selling price) = Mark price + tax.

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Nickolas Stevens
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2 TAXATION FORMULAS AND KEYPOINTS SALES TAX: tax Sales Tax% = 100 M.P(list price) Amount to be paid (Selling price) = Mark price + tax. To find the sales tax when the discount are given Discount = discount % on MP. New MP (selling price before tax) = Mark price discount. Then find the sales tax on the new MP. To find the sales tax when two successive discounts are given. 1. First discount = discount % of MP. Therefore new MP = MP discount. 2. Second discount = discount % new MP. The newly changed MP = new MP discount. 3. Find the sales tax on the newly changed MP. OR By using formula to find the selling price after giving two successive discounts, are given and the given tax. d 1 d 2 tax S.P. = M.P Where d 1 and d 2 are successive discounts

3 TYPE 1 Miloni goes to an electronic goods shop and makes the following purchases: Television costing `19,200, S.T. charged is 6% extra. Walkman priced at `2,000 with S.T. at 5% extra. Laser Disc Player priced at `22,500, S.T. at 10% extra. Find the amount payable by Miloni to the shopkeeper.

4 TYPE 2 The price of the TV set inclusive of Sales Tax of 9% is `13,407. Find its mark price. If the sales tax is increased to 13% how much more does that customer pay for the TV.

5 TYPE 3 Parija buys a T.V. for `10,260 including sales tax. If the list price of the T.V. is `9,500, find the rate of sales tax charged. Bijen buys a camera and pays `376 as sales tax on it. If the rate of sales tax charged is 8%, find the listed price of the camera.

6 TYPE 4 When the rate of sales tax is decreased from 9% to 7% for a machine, a customer has to pay `632 less for it. What is the listed price of the machine?

7 TYPE 5 The list price of a tape recorder is `2,461 and rate of sales tax 7%. A customer is prepared to buy it provided the shopkeeper reduces the price so that the total amount to be paid by him, including sales tax, is `2461. How much reduction the customer is asking for? Priyanka went to a shop to buy a pair of shoes costing `750. The rate of sales tax is 6%. She requests the shopkeeper to reduce the price to such an extent that she has to pay `742, including sales tax. Find the reduction needed in the price.

8 TYPE 6 The catalogue price of a colour T.V. is `24,000. The shopkeeper gives a discount of 8% on the listed price. He gives a further off-season discount of 5% on the balance. But sales tax at 10% is charged on the remaining amount. Find: The sales tax amount a customer has to pay. The final price he has to pay for the colour T.V

9 TYPE 7 Sakshi purchases a computer for `34,821, which includes 10% rebate on the marked price and then 6% sales tax on the remaining price. Find the marked price of the computer.

10 TYPE 8 A shopkeeper buys an article at a rebate of 20% on its marked price and then spends `300 on its transportation, etc. If he sells the article for `4160 (including sales tax at the rate of 4% of the marked price), find the shopkeeper s profit as per cent.

11 A shopkeeper buys an article for `400 from a whole-seller at a discount of 20% on the listed price. He marks up the listed price by 10% and sells it at `594, which includes sales tax on the marked up price. Find: Marked price Rate of sales tax Profit percentage of the shopkeeper

12 TYPE 5 The list price of a tape recorder is `2,461 and rate of sales tax 7%. A customer is prepared to buy it provided the shopkeeper reduces the price so that the total amount to be paid by him, including sales tax, is `2461. How much reduction the customer is asking for? Priyanka went to a shop to buy a pair of shoes costing `750. The rate of sales tax is 6%. She requests the shopkeeper to reduce the price to such an extent that she has to pay `742, including sales tax. Find the reduction needed in the price.

Class 8: Chapter 14 Profit and Loss Exercise 14C

Class 8: Chapter 14 Profit and Loss Exercise 14C Q1. The marked price of a refrigerator is Rs.16450. The shopkeeper offers on off-season discount of 16% on it. Find its selling price. Marked Price = Rs.