A retailer purchases a camera for ₹ 2500 and sells it to a consumer at 10% profit . If the rates of GST is 12% the SP of the camera excluding GST is :
Answers
Answer:
If a retailer purchases a fan for Rs. 1500 from a wholesaler and sells it to a
consumer at 10% profit. and the rate of GST is 12% then, including tax (under GST) the selling price would be Rs. (1500×110)/ 100 = 1650
If the sales are intra-state and the rate of GST is 12%
The Selling price would be Rs. (1650×112)/100= 1848
Step-by-step explanation:
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Given: The cost price of the camera = ₹ 2500
Profit percentage = 10%
Rate of GST = 12%
To find: The SP of the camera excluding GST
Solution: Since we have to find out the selling price of the camera excluding GST, there is no use of the rate of GST.
When the cost price and profit percentage of the item is given, the selling price is given by the formula:
SP = CP (1 + profit %/100)
Accordingly,
SP = 2500(1 + 10/100)
⇒ SP = 2500 × 11/10
⇒ SP = 250 × 11
⇒ SP = 2750
Therefore, the SP of the camera excluding GST is ₹ 2750.