This is a very important question from GST chapter 2 of ICSE board. In this question Cost Price at which Kiran purchased this article is given which is after the discount given to her and this cost price includes 18% GST. You have to find the Market Price of the article.
Kiran purchases an article for rupees 5310 which includes 10% rebate on the marked price and 18% tax under GST on the remaining price. find the marked price of the article.
Redate (discount)= 10% on the marked
After the discount selling price = Marked price – 10% of M.P
After the discount selling price = x – 10/100x = 90/100x
∴ After the discount selling price = 90/100x ……. (1)
18% GST is applicable on the selling price After the discount.
∴ Final Purchase price = After the discount selling price + 18% of the discount selling price.
∴ Final purchase price = 90/100x + (18/100)×90/100x
∴ Final Purchase price = 90/100x +1620/10000x
∴ Final Purchase price = 1.062 x
But, the Final purchase price is Rs. 5310
∴ 5310 = 1.062 x
∴ x = 5310 ÷ 1.062
∴ x = 5000
∴ Marked Price of the article is Rs. 5000