Question

A fridge has a listed price of Rs 16000 . Successive discounts of $10 \%$ and $20 \%$ are given on its listed price. Sales tax is then charged at $30 \%$. Ravi bought it for $\mathrm{Rs} \mathrm{S}$ which includes the sales tax. Find $\mathrm{S}$. (1) 16000 (2) 15848 (3) 16168 (4) 14976

Name: Problem 37, Chapter 23: The IIT Foundation series of Mathematics Class
Uploaded: 2021-09-01T17:54:15-08:00
Duration: 1 min 36 s
Channel: Nida Wasiq
Description: A fridge has a listed price of Rs 16000 . Successive discounts of 10 % and 20 % are given on its listed price. Sales tax is then charged at 30 %. Ravi bought it for Rs S which includes the sales tax. Find S. (1) 16000 (2) 15848 (3) 16168 (4) 14976

   A fridge has a listed price of Rs 16000 . Successive discounts of $10 \%$ and $20 \%$ are given on its listed price. Sales tax is then charged at $30 \%$. Ravi bought it for $\mathrm{Rs} \mathrm{S}$ which includes the sales tax. Find $\mathrm{S}$.
(1) 16000
(2) 15848
(3) 16168
(4) 14976

The IIT Foundation series of Mathematics Class

Trishna Knowledge… 5th Edition

Chapter 23, Problem 37

Instant Answer

Solved by Expert Nida Wasiq

09/01/2021

Step 1

A discount of 10% is given on this price. We can calculate the amount after this discount using the formula for selling price: \[ \text{Selling Price} = \text{Cost Price} \times \left(1 - \frac{\text{Discount}}{100}\right) \] Substituting the given values, we Show more…

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A fridge has a listed price of Rs 16000 . Successive discounts of $10 \%$ and $20 \%$ are given on its listed price. Sales tax is then charged at $30 \%$. Ravi bought it for $\mathrm{Rs} \mathrm{S}$ which includes the sales tax. Find $\mathrm{S}$. (1) 16000 (2) 15848 (3) 16168 (4) 14976

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Key Concepts

Percentage Discounts

This concept involves reducing an original price by a certain percentage. Percentage discounts affect the cost by taking the specified fraction off the marked or current price, and are fundamental when calculating sale prices or reduced costs in consumer transactions.

Successive Discounts

Successive discounts refer to applying multiple discount percentages one after the other on a price. In such cases, the second discount is applied to the already discounted price of the first discount, rather than on the original price, which makes it a compound effect rather than a simple additive discount.

Sales Tax

Sales tax is an additional charge calculated as a percentage of the sale price, typically applied after all discounts have been subtracted from the original price. This adds to the final amount that the consumer must pay and is a critical component when determining the overall cost of a product.

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