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

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Rs. 1500

Rs. 1600

Rs. 1550

Rs. 1650

answer is A.

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Detailed Solution

Concept: First, assume that the initial market price of the refrigerator is x. Now find the value of x using the information given in the question that the sum of

of x and GST equals Rs. 15680. Now that we have found the value of x,
We assume that the reduced mark price of the refrigerator will be y. Now find the value of y using the information given in the question that the sum of

of y and GST is equal to x. After finding the value of y, find the value of

that corresponds to the required reduction in the price of the refrigerator.
Given,

GST is applied and the price is Rs. It's 15680. Therefore, the sum of the market price and GST is equal to Rs. 15680.
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Rs. 14000 is the initial market price.
Given, The sum of the discounted price and its 12% GST is equal to the initial market price of the refrigerator. Therefore, we get the following equation:

From equation (i) substitute the value of x in equation (ii)
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To find we reduction we need to subtract initial market price with reduced price
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Hence, the correct answer is option (1)

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