A CFL bulb is sold for rs160 at profit of 10% at what price was bulb purchased
Answers
Answer:
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Step-by-step explanation:
Profit and loss
Profit and loss deals with profit and loss made in finance and business transaction.
If the selling price of the article is greater than its cost price, it is called profit
i.e S.P > C.P
Profit = S.P – C.P
Profit % = profitC.P* 100%
If the selling price of the article is less than its cost price, it is called loss
i.e S.P < C.P
Profit = C.P – S.P
Loss % = LossC.P* 100%
Discount:
The price of the article tagged by the shopkeeper is the marked price of the article Discount is the amount given on marked price by lowering the price so that the shopkeeper can promote his business and attract the more customer. It is expressed in percentage. It is the difference between marked price and selling price.
S.P = M.P – discount
Or, Discount = M.P – S.P
Discount % = discountamountM.P∗100%
VAT (Value added tax)
Value-Added Tax (VAT) is a tax on consumer spending. It is collected by VAT-registered traders on their supplies of goods and services affected within the State. Generally, each such trader in the chain of supply from manufacturer through to retailer charges VAT on his or her sales and is entitled to deduct from this amount the VAT paid on his or her purchases.
The effect of offsetting VAT on purchases against VAT on sales is to impose the tax on the added value at each stage of production – hence Value-Added Tax.
VAT is imposed after the deduction of discounts.