A shopkeeper buys shirts from a producer and sells them at 20% profit. A customer has to pay Rs. 3,186.00 including 18% taxes, per shirt. At what price did the shopkeeper buy each shirt from the producer ?
Correct Answer :
Rs. 2,250.00
Solution :
The correct option is Rs. 2,250.00.
To find the price at which the shopkeeper bought each shirt from the producer, we can break down the problem into two main steps:
Step 1: Find the selling price of the shirt before tax
Let the selling price (SP) of the shirt before tax be S.
The customer paid Rs. 3,186.00, which includes a 18% tax on the selling price S.
Therefore, the total price paid by the customer is:
We can write this as:
Solving for S:
So, the selling price of the shirt before tax is Rs. 2,700.00.
Step 2: Find the cost price for the shopkeeper
Let the cost price (CP) at which the shopkeeper bought the shirt from the producer be C.
The shopkeeper sells the shirt at a 20% profit. This means:
Substitute S = 2700 into the equation:
Solving for C:
Thus, the shopkeeper bought each shirt from the producer at Rs. 2,250.00.
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