A shopkeeper sells an article at its marked price of rs. 15,000 and charges tax at the rate of 12% from the customer. if the shopkeeper pays a VAT of rs. 360, calculate the price inclusive of tax paid by the shopkeeper.
Answers
Heya!!
Here's your answer!!
Tax charged by shopkeeper
= 12% of 15000 = 12/100 × 15000
= ₹ 1800
VAT = Tax charged - tax paid
360 = 1800 - tax paid
therefore, Tax paid by shopkeeper = ₹ 1440,
If shopkeeper buys the article for ₹ x, then
tax on it = 12% of x = 1440.
x = ₹ 12,000.
Therefore, Paid by shopkeeper
= ₹ 12,000 + ₹ 1440
= ₹ 13,440. Ans.
Glad help you,
it helps you,
thanks.
Tax charged by the shopkeeper from the customer = 12% of 15000 = 12/100 × 15000 = 12 × 150 = ₹ 1800
We know that:
VAT = Tax Charged - Tax Paid
=> 360 = 1800 - x
=> x = ₹ 1440 = Tax paid by the shopkeeper
If the shopkeeper had bought the article for ₹ a, then tax on it:
=> 12% of x = ₹ 1440
=> x = ₹ 12000
Therefore, tax paid by the shopkeeper = ₹ 12000 + ₹ 1440 = ₹ 13440