Question

A shopkeeper buys an article from a wholesaler for 20000 and sells it to a consumer
at 10% profit. If the rate of GST is 12%, find the tax liability of the shopkeeper.​

Answer 1

Answer:

SP of wholesaler = 20000

CP of shopkeeper = 20000

SP of shopkeeper = 20000 + 10 / 100 * 20000

                              = 20000 + 2000

                              = 22000

GST = 12 %

Tax liability of shopkeeper = Profit * GST %

Profit = SP - CP = 22000 - 20000 = 2000

Tax liability of shopkeeper = 2000 * 12 / 100

                                            = 240

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Answer 2

Answer:

240

Step-by-step explanation:

20000+10%=22000

22000-20000=2000

2000+12%=240