Question
Download Solution PDFIf sales tax is increased by 23% and net income of a shopkeeper is decreased by 8%. Find the approximate rate of sales tax.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Sales tax is increased by 23% and net income is decreased by 8%
Concept used:
Sales tax ∝ (1/net income)
Calculation:
Sales tax × 23% = Net income × 8%
⇒ \(Sales~ tax\over Net ~income\) = \(8\over23\)
Total income = (8 + 23) = 31 units
So, the rate of sales tax = \(8\over31\)× 100 = 25.80%
∴ The correct answer is 25.80%.
Last updated on Jun 26, 2025
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