An article is bought for Rs. $1{,}500$ plus $12\%$ GST. The buyer later sells it for Rs. $1{,}680$ (no GST…

An article is bought for Rs. $1{,}500$ plus $12\%$ GST. The buyer later sells it for Rs. $1{,}680$ (no GST collected). His net profit/loss is
  1. no profit no loss
  2. loss of Rs. $90$
  3. profit of Rs. $180$
  4. loss of Rs. $200$

Solution

Total cost paid $= 1500 + 12\%$ of $1500 = 1500 + 180 = 1680$. SP $= 1680$. Net profit/loss $= 0$.

Asked in: IMO

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