Profit and Loss Discount Tax Class 8 RS Aggarwal Exe-7C Goyal Brothers ICSE Maths Solutions Ch-7. We provide step by step Solutions of council prescribe textbook / publication to develop skill and confidence. Visit official Website CISCE for detail information about ICSE Board Class-8 Mathematics.
Profit and Loss Discount Tax Class 8 RS Aggarwal Exe-7C Goyal Brothers ICSE Maths Solutions Ch-7
| Board | ICSE |
| Publications | Goyal Brothers Prakashan |
| Subject | Maths |
| Class | 8th |
| writer | RS Aggarwal |
| Book Name | Foundation |
| Ch-7 | Profit and Loss Discount Tax |
| Exe-7C | Discount and Tax Questions Solved |
| Edition | 2024-2025 |
How to Solve Tax Discount Questions?
Note: Before starting step by step solutions on discount one must know following topic clearly.
MP: It is the market price also called tag price catalogue price list price print price etc.
Discount Rate: Always given in percent.
Discount Value: Find out the discount value on MP(never on selling price) by using formula
Discount Value = MP x (Dis Rate /100)
SP: it is the selling price on which a customer buy the goods. calculate SP by using formula
SP = MP- Discount Value
Tax: Revenue taken by government is called tax. It is also given in percentage. It is always calculated on SP (never on MP) calculate tax by using formula
Tax Value = SP x (Tax Rate/100)
Final Amount: Amount paid by customer including tax is called final amount. calculate amount by using formula
Amount = SP + Tax Value
Exercise- 7C
(Profit and Loss Discount Tax Class 8 RS Aggarwal Exe-7C Goyal Brothers ICSE Maths Solutions Ch-7)
Que-1: The marked price of a refrigerator is Rs16450. The shopkeepers offers an off-season discount of 16% on it. Find its selling price.
Sol: M.P. = Rs16450
Discount = 16%
S.P. = M.P. – {(M.P.xD)/100}
S.P. = 16450 – {(16450×16)/100}
S.P. = 16450 – 2632
S.P. = Rs13818.
Que-2: The price of a sweater was slashed down by a shopkeeper from Rs850 to Rs731. Find the rate of discount given by him.
Sol: The price of a sweater was slashed down by a shopkeeper from rupees 850 to rupees 731..
MRP of sweater = Rs 850
Sold after discount = Rs 731
Difference = 850 – 731 = 119
= Rs 119.
Discount % = ( 119 x 100)/ 850
= ( 119 x 2) / 17
= 7 x 2
= 14 %
Que-3: Find the rate of discount being given on a mini toy-gun whose selling price is Rs345 after deducting a discount of Rs30 on its marked price.
Sol: SP (Selling Price) = 345
D (Discount) =30
MP = SP+D
= 375
Rate of Discount=(D×100)/MP
= (30×100)/375
= 8% ans.
Que-4: After allowing a discount of 15%, a baby-suit was sold for Rs1156. Find its marked price.
Sol: Let the marked price be x.
Selling price = Rs.1156
Discount = 15%
=> (100-15)% of x = 1156
=> 85% of x = 1156
=> 85/100 x = 1156
=> x = 1156 × 100/85
=> x = 1360
Que-5: A calculator was bought for Rs435 after getting a discount of 13%. Find the marked price of the calculator.
Sol: Let the marked price of the calculator be ₹x.
Selling price of the calculator= ₹435
Discount= 13%
₹x-13% of ₹x= ₹435
→ ₹x-₹13x/100= ₹435
→ ₹100x-13x/100= ₹ 435
→ ₹87x/100= ₹435
→ ₹87x= ₹43500
→ ₹x= ₹500
Que-6: A dealer marked his goods 35% above cost price and allowed a discount of 20% on the parked price. Find his gain or loss per cent.
Sol: Let C.P. of goods = Rs.100 (as 35% of 100 is Rs.35)
∴Marked price = Rs.100+35 = Rs.135
Rate of discount = 20%
Discount amount = 20% of 135
= (20/100)×135
= Rs.27
Now, selling price = M.P−Discount
= 135−27
= 108
Since, S.P>C.P
Profit amount = S.P−C.P
= 108−100
=8
Thus, Gain percent = (profit/C.P)×100
= (8/100)×100
= 8%
Que-7: An article was marked 40% above cost price and a discount of 35% was given on its marked price. Find the gain or loss per cent made y the shopkeeper.
Sol: Let say Cost Price of Article = 100C
article was marked 40% above cost price
= Marked Price = 100C + (40/100)100C = 140C
discount of 35% was given on its marked price
35 % Discount = (35/100) * 140C = 49C
Selling Price = Marked Price – Discount
= 140C – 49C
= 91C
Loss = 100C – 91C = 9C
Loss % = (9C/100C) * 100 = 9%
Que-8: A dealer purchased a washing machine for Rs7660. After allowing a discount of 12% on its marked price, he gains 10%. Find the marked price.
Sol: Cost Price + Profit = Selling Price
The Cost Price = Rs 7660, Profit/ Gain = 10% (Profit based upon cost). Hence,
7660 + 10% of 7660 = Selling Price
7660 + 766 = Selling Price
Selling Price = Rs 8426
Marked Price (MP) – Discount = Selling Price
MP – 12% of MP = 8426
(100MP – 12MP)/100 = 8426
88MP = 842600
MP = 842600 / 88
MP = Rs 9575
Que-9: A shopkeeper bought a sewing machine for Rs3750. After allowing a discount of 10% on its marked price, he gains 26%. Find the marked price of the sewing machine.
Sol: CP = 3750
gain = 26%
S.P. = (C.P. x g%)/100
S.P. = (3750 x 126)/100
S.P. = 4725
Discount = 10%
M.P. = (S.P. x 100)/Discount
M.P. = (4725 x 100)/90
M.P. = 5250.
Que-10: After allowing a discount of 10% on the marked price, a trader still makes a profit of 17%. By what per cent is the marked price above cost price ?
Sol: Given he gains 17% on selling price would be
Selling Price = (100 + 17% of 100) = Rs.117
Discount = 10%
Let x be the marked price.
Market Price – Discount = Selling Price
x – (10% of x) = 117
x – x/10 = 117
9x/10 = 117
x = 130
Cost price is 100
Selling price is 117
Marked price is 130
So, Market Price is 30% above Cost Price.
Que-11: After allowing a discount of 12% on the marked price, a shopkeeper still gains 21%. By what per cent is the marked price above cost price ?
Sol: Let the C.P. = Rs100
Gain% = 21%
Discount = 12%
S.P. = 121% of 100 = Rs. 121
M.P. = 121×(100/88) = Rs.137.5
M.P. Above% = 137.5−(100/100)×100
M.P. = 37.5 %
Que-12: Find a single discount equivalent to two successive discounts of 20% and 10%.
Sol: The successive discount are 10% and 20%.
Successive discount = X + Y – (XY)/100
Where,
X = First discount
Y = Second discount
Successive discount = X + Y – (XY)/100
X = 10%, Y = 20%
⇒ 10 + 20 – 200/100
⇒ 28%
∴ The single equivalent discount is 28%.
Que-13: Find a single discount equivalent to two successive discounts of 40% and 5%.
Sol: The percentage of two successive discounts are 40% and 5%.
The marked price of the item is Rs. 100
Price after first discount = {100-(100 × 40/100)}
= (100-40) = Rs. 60
Price after second discount = {60-(60×5/100)} = Rs. 57
Difference between the final price and the initial price = (100-57) = Rs. 43
Single equivalent discount = (100 × Total discount amount / Initial price)
= 100 × 43/100
= 43%
Que-14: Find a single discount equivalent to three successive discounts of 20%, 5% and 1%.
Sol: Let the Marked Price be 100.
First discount = 20% of 100 = 20
Price after first discount = 80
Second discount = 5% of 80 = 4
Price after second discount = 76
Third discount = 1% of 76 = 0.76
Price after third discount = 75.24
Hence, single discount = 100 – 75.24 = 24.76%
Que-15: The marked price of a watch is Rs1375. If tax is charged at the rate of 4%, find the total cost of the watch.
Sol: The marked price of a watch is rupees 1375.
if tax is charged at the rate of 4 percent.
4% is written in the decimal form.
= 0.04%
Tax price = 0.04 × 1375
= Rs 55
Total cost of the watch = Marked price of a watch + Tax price
= Rs1375 + Rs 55
= Rs 1430
Que-16: Ravi buys a bicycle with a marked price of Rs12500. He gets a rebate of 10% on it. After getting the rebate, tax is charged at the rate of 6%. Find the amount he will have to pay for the bicycle.
Sol: It is given that Ravi buys a bicycle of Rs 12500.He gets a rebate of 10%. And the tax is 6%.
As the rebate of the bicycle is 10% so the bicycle’s price is 90% of the original price.
= 0.9 × 12500
= Rs 11250
After the addition of tax, the amount becomes:
0.06 × 12500
= Rs 675
Therefore, the total amount he has to pay is:
Rs 11250 + Rs 675
= Rs 11925
Que-17: The list price of the washing machine is Rs25000 and the shopkeeper gives a discount of 12% on the list price. On remaining amount, he charges a tax of 10%.
Find : (i) the amount of tax, a customer has to pay, and (ii) the final price he has to pay for the washing machine.
Sol: PRICE OF THE WASHING MACHINE = RS.25000
DISCOUNT = 12%
(i) COST AFTER DISCOUNT= (25000×88)/100
= 22000
AMOUNT OF TAX = (22000×10)/100
= RS.2200
(ii) TOTAL AMOUNT HE HAS TO PAY
= RS.2200 + RS.22000
= RS.24200
Que-18: Reena purchased a face cream for Rs113.40 including tax. If the printed price of the face cream is Rs105, find the rate of tax on it.
Sol: 113.4 Rs. is the price including tax of the face cream and 105 Rs. is the printed price of the face cream.
So, Reena has to pay (113.4-105) =8.4 Rs. as the tax for her purchase.
Hence, the percentage of tax she has to pay is given by
= {(113.4-105)/105} x 100
= (8.4/105) x 100
= 8%.
Que-19: Vivek purchased a laptop for Rs34164, which includes 10% rebates on the marked price and then 4% tax on the remaining price. Find the marked price of the laptop.
Sol: Let M.P. be x
Rebate = 10%
Price after rebate = x – (10x/100)
= 9x/10
Sales tax = 4%
Total money = (9x/10) + {(4/100) x (9x/10)}
= (9x/10) + (36x/1000) = 34164
= (936x/1000) = 34164
x = (34164×1000)/936
x = Rs36500.
Que-20: Tanya buys an electric iron fir Rs712.80, which includes two successive discounts of 10% and 4% respectively on the marked price and then 10% tax on the remaining price. Find the marked price of the electric iron.
Sol: Let the the marked price before both the discounts and the tax be Rs. x
First discount is 10 % and the second discount is 4 % and then the tax is added on the remaining amount.
x – 10 % discount
⇒ x – (x*10)/100
⇒ x – x/10
= 9x/10
So, after allowing first discount of 10 %, the price of iron is Rs. 9x/10. Now the second discount of 4 % will be given on this amount.
9x/10 – 4 % discount
⇒ 9x/10 – (9x/10*4/100)
⇒ 9x/10 – 9x/250
Taking LCM and then solving it.
⇒ (225x – 9x)/250
= 216x/250
So, after the second discount of 4 %, the remaining price of iron is Rs. 216x/250. Now, the tax 10 % will be charged on this amount.
216x/250 + 10 % tax = 712.80
⇒ 216x/250 + (216x/250*10/100) = 712.80
⇒ 216x/250 + 216x/2500 = 712.80
Taking the LCM of the denominators and then solving it.
⇒ (2160x + 216x)/2500 = 712.80
⇒ 2376x/2500 = 712.80
⇒ 2376x = 712.80*2500
⇒ x = 1782000/2376
⇒ x = 750
Que-21: The price of the good processor inclusive of tax of 5% is Rs6930. If the tax is increased to 8%, how much more does the customer pay for it ?
Sol: M.P. be x
S.P.1 = M.P. + T1
6930 = x + (5x/100)
6930 = (105x/100)
x = (6930×100)/105
x = 6600
S.P.2 = {1+(T/100)} x 6600
S.P.2 = (108/100) x 6600
S.P.2 = 7128
S.P. = S.P.2 – S.P.1
S.P. = 7128 – 6930
S.P. = 198.
Que-22: The price of a laser printer including 7% tax, is Rs17334. How much less does a customer pay for it, if the tax on it is reduced to 4% ?
Sol: Let the price of the laser printer without tax= Rs x
Therefore, Tax = 7% of Rs x
= Rs (7/100 × x)
= Rs 7/100x
So, price of the laser printer including tax
= Rs (x + 7/100x)
= Rs (x + 7/100x)
= Rs (100x + 7x /100)
= Rs 107x / 100
Given: The price of the laser printer including tax
= Rs 17334
Therefore, 107x / 100 = 17334
x = (17334×100)/107
x = 16200
So, Price of the laser printer without tax is Rs 16200
Given: Tax on it is reduced to 4%
Therefore, 4% of Rs 16200 = Rs ( 4/100 × 16200)
= Rs 648
Again 7% of Rs 16200 = Rs (7/100 × 16200)
= Rs 1134
Therefore, Amount of money less paid by the customer = Rs (1134 – 648)
= Rs 486
–: End of Profit and Loss Discount Tax Class 8 RS Aggarwal Exe-7C Goyal Brothers ICSE Maths Solutions Ch-7 :–
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