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Find the selling price of two bars of soap at Rs. 35 each, when a sales tax of 5% is added on it.

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Last updated date: 21st Jul 2024
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Answer
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Hint: We are given the price of two items and we are required to find the selling price of both of them when a sales tax is added on both the items. For this we need to be aware of several terms such as the sales tax, the selling price, the marked price and so on and we also need to be aware about the formulas used in this. We will calculate the price at which both the items will be sold using these formulae.

Complete step by step answer:
The price on the label of an article is called its marked price(list price).
Sales Tax is charged on the sale of an item by the government and is added to the Bill Amount. Sales tax is one of the many forms of indirect taxes that a government imposes on its citizens.
If P be the printed price or marked price of a commodity, the rate of sales tax be r% and S be the selling price (i.e., the price a customer has to pay) then
$S=P\left(1+\dfrac{r}{100}\right)$
Here, we have two soaps of Rs.35 each which means the marked price is:
$P=35\times 2=70$
Also, $r=5$
We will plug these values in the formula above, we get:
 $S=70\left(1+\dfrac{5}{100}\right)$
$\implies S=Rs.73.5$

Note: You should be aware about all the formulae regarding the sale tax, marked price and other terms. You need to make sure that you are not mixing these terms up. Make sure that you don’t make any calculation mistakes.