The list price of a T.V. is Rs 15000 and the shopkeeper...

The list price of a T.V. is Rs 15000 and the shopkeeper allows a discount of $20 \%$ and $10 \%$ successively on list price. On the remaining amount, he charges $20 \%$ as sales tax. If buyer paid Rs $\mathrm{x}$, then by how much amount will the list price exceed $\operatorname{Rs} x$ ? (1) $\mathrm{Rs} 3000$ (2) $\operatorname{Rs} 4200$ (3) $\mathrm{Rs} 2040$ (4) $\mathrm{Rs} 5000$

The list price of a T.V. is Rs 15000 and the shopkeeper allows a discount of $20 \%$ and $10 \%$ successively on list price. On the remaining amount, he charges $20 \%$ as sales tax. If buyer paid Rs $\mathrm{x}$, then by how much amount will the list price exceed $\operatorname{Rs} x$ ?
(1) $\mathrm{Rs} 3000$
(2) $\operatorname{Rs} 4200$
(3) $\mathrm{Rs} 2040$
(4) $\mathrm{Rs} 5000$

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Key Concepts

Percentage Discount

A percentage discount reduces the original price by a specified percent. It involves calculating a fraction of the original amount and subtracting that value, thereby arriving at a lower price. This concept is widely used in retail and pricing strategies to attract customers or manage sales promotions.

Successive Discounts

Successive discounts refer to applying more than one discount sequentially on a price, rather than summing the percentages. Each discount is applied to the price obtained after the previous discount. This compounded approach results in a net discount that is less than the simple sum of the individual percentages.

Sales Tax

Sales tax is an additional percentage charge applied to the sale of goods and services, calculated on the price that remains after any discounts have been applied. This is important for determining the final amount payable by the buyer in retail transactions.

Comparison of List Price and Final Price

The comparison between the list price (original marked price) and the final price paid involves accounting for all deductions like discounts and additions like taxes. This allows one to understand the actual cost benefit and price difference between the initial price and the net amount the consumer pays.

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