For a trader, the marked price of a refrigerator = Rs. 15,680 inclusive of GST at the rate of 12% on the marked price. Gagan, a customer for this refrigerator, asks the trader to reduce the marked price of the refrigerator to such extent that its reduced price plus GST on it is equal to the marked price of the refrigerator. Find the required reduction.

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1200

1300

1400

1500

answer is D.

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Detailed Solution

Let us assume the marked price of the refrigerator be Rs. x.
Which is inclusive of GST (12%)
So,
x + 12% of x = 15,680
x = Rs. 14,000
Initial marked price = Rs. 14,000
Now,
Let Gagan asked for priced reduction of Rs. y.
So, the new price = 14,000 – y
And, GST on new price = 12% of (14,000 – y)
From the question,
14,000 – y + 0.12(14,000 – y) = 14,000
-1.12y + 1680 = 0
y = 1500
Therefore, the required reduction in price is Rs. 1500.

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