Question

1. Marked price of an article is 2860 and rate of VAT is 8%. Shopkeeper allows a discount
of 20% and still makes a profit of 10%. If he spent 4% as overheads, then find the
original cost price of the article and final selling price including VAT.
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Answer 1

Answer:

MRP = Rs. 2860. After VAT, Selling Price = Rs. 3088.80

Net Sale Price after a discount of 20% = Rs. 2471.04

Price before VAT is applied = 2860 - 20% = Rs. 2288

Let the Cost Price be X. Since the overheads are 4%, the new CP will be 1.04X.

Hence profit % can be calculated as (2288 - 1.04X)/1.04X

X = 2000

Hence the Cost Price of the article is Rs. 2000 and the final Selling price including VAT will be Rs. 2471.04

Step-by-step explanation:

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