The price of a bicycle is Rs.3136 inclusive of tax (under GST) at the rate of 12% on its listed price. A buyer asks for a discount on the listed price so that after charging GST, the selling price becomes equal to the listed price. Find the amount of discount which the seller has to allow for the deal.

Hint: To solve this question first we will calculate the 12% of the listed price of the bicycle and will then subtract it from the given price Rs.3136 to get the listed price of the bicycle without GST. Now after that we will calculate 12% of the obtained listed price and subtract it from the listed price and then equate the equation with the final price. After getting the final price we will subtract it from the listed price to get the amount of discount which seller has to provide to satisfy the given conditions.

Complete step-by-step answer:
We are given the price of the bicycle as Rs.3136 which includes 12% of the GST,
So to get the listed price of the bicycle we will have to suppose the listed price as Rs.X and then calculate it as follows,
$ X+\dfrac{12}{100}X=3136 $
$ \dfrac{112}{100}X=3136 $
$ X=3136\times \dfrac{100}{112} $
$ X=2800 $
Hence we get the listed price of the bicycle as Rs2800.
Now we are given that seller have to give discount such that selling price becomes equal to the listed price so we will suppose the discounted price as Rs.Y, so we get
$ Y+\dfrac{12}{100}Y=2800 $
$ \dfrac{112}{100}Y=2800 $
$ Y=2800\times \dfrac{100}{112} $
$ Y=2500 $
Hence the price after discount will be Rs.2500
And we get the discount that seller would have to give in order to make the deal as,
= 2800 - 2500 = Rs.300
Hence our answer will be Rs.300

Note: The GST stands for Goods and Services Tax. This is a tax that is imposed indirectly. In India, this indirect tax is applied to both products and services. This concept used in solving problem helps to assess the real life scenarios while buying and purchasing items.