Question

11. A shopkeeper sells an article at its list price
(3,000) and charges sales-tax at the rate of
12%. If the VAT paid by the shopkeeper is
72, at what price did the shopkeeper buy the
article inclusive of sales-tax ?​

Answer 1

Answer:

Step-by-step explanation:

Let the profit of the retailer=Rs.x

VAT paid by the shopkeeper is Rs.72 at the rate of sales tax  12%  

∴ 12% of x=72

⇒  

100

12

​  

x=72

⇒x=  

12

72×100

​  

=Rs.600

∴ cost price to the retailer=3000−600=Rs.2400

Sales tax paid by the retailer=12% of 2400

⇒  

100

12

​  

×2400=Rs.288

∴Price of the article including sales tax paid by the shopkeeper =2400+288=Rs.2688

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