Profit and loss , Sales tax

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Mathematics

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7th - 8th Grade

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Hard

ratnasudha peri

Used 3+ times

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4 Slides • 1 Question

Profit and loss , Sales tax

Profit = selling price - cost price
Loss = cost price - selling price

Selling Price = Marked price - Discount (Rs)

\ PROFIT\ \%=\frac{PROFIT}{COST\ PRICE}\times100\%

Loss\ \%=\ \frac{LOSS}{COST\ PRICE}\ \times100\ \%

sales tax/value added tax ( VAT)

UPDATED version- CGST/SGST

Sales tax/ value added tax is charged by the state government on the sale of an item. It is collected by the shopkeeper from the customer and given to the Government.
It is calculated on the selling price of an item and is added to the value of the bill.
sales tax is known as value added tax (VAT).

^{Note : In case of any discount , first deduct the discount from the marked price and then calculate sales tax (VAT)}

The cost price of a pair of shoes= Rs.670, sales tax is 6% . Find the bill amount.
calculate 6% of 670= ???
Add the value in Rs 670.
Bill amount=

Multiple Select

MRP of a mobile phone is Rs.50000. The shopkeeper offers a discount of 5%. If The VAT is 8%, find the amount the customer has to pay to shopkeeper.

Rs.51300

47500+3800

Application based Questions

A DVD player is marked for Rs. 5000. the shopkeeper offers 10% discount on it. If VAT is received 8%. Find the amount paid by the customer.
Calculate selling price= M.P - d% of M.P.
add 8% VAT on Selling price, that will be Bill Amount.

Profit and loss , Sales tax

Profit = selling price - cost price
Loss = cost price - selling price

Selling Price = Marked price - Discount (Rs)

\ PROFIT\ \%=\frac{PROFIT}{COST\ PRICE}\times100\%

Loss\ \%=\ \frac{LOSS}{COST\ PRICE}\ \times100\ \%

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