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A shopkeeper buys an article at a rebate of 20% on its marked price and then spends Rs. 300 on its transportation, etc. If he sells the article for Rs. 4,160 (including sales tax at the rate of 4% of the marked price), find the shopkeeper’s profit as percent.

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answer is C.

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Detailed Solution

Concept- Formula used:

Let x be the market price.
It is given that rebate is 20%.
The money shopkeeper spend on buying

It is also given that

(including sales tax) and rate of sales tax

Now calculate profit as

Further, we will find profit%

Hence, the correct answer is option 3.

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