Question

2. A wholesaler A sells a machine to a retailer B for 5000 and the retailer B sells it to
consumer at a profit of 1000. If the GST rate is 12%, calculate the tax liability of the retailer b​

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Answer:

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8th

Maths

Comparing Quantities

Sales Tax

A manufacturer marks an art...

MATHS

A manufacturer marks an article at Rs. 5,000. He sells this article to a wholesaler at a discount of 25% on the marked price and the wholesaler sells it to a retailer at a discount of 15% on its marked price. If he retailer sells the article without any discount and at each stage the sales-tax is 8%, calculate the amount of VAT paid by:

(i) The wholesaler    (ii) The retailer

A

(i)Rs.50    (ii)Rs.40

B

(i)Rs.40    (ii)Rs.60

Correct Answer

C

(i)Rs.30    (ii)Rs.70

Your Answer

D

(i)Rs.20    (ii)Rs.40

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ANSWER

Mark price =Rs.5000

Manufacture sell the article to the wholesaler  at a discount of =25%

Price of the article after discount=5000−10025×5000

⇒5000−1250=Rs.3750

Rate of sales tax=8%

∴Tax paid by the wholesaler=8% of 3750

⇒1008×3750=Rs.300

Wholesaler sell the article to retailer at a discount of 15% on M.P

price of the article after discount=5000−10015×5000

⇒5000−750=Rs.4250

Rate of sales tax =8%

∴Tax paid by the retailer=8% of Rs. 4250

⇒1008×4250=Rs.340

(i)VAT paid by the wholesaler

VAT=tax paid by the retailer-tax paid by the wholesaler

VAT=340−