Question

A shopkeeper sells an article at the listed price of Rs 1500 and the rate of VAT is 12% at each stage of sale. If the shopkeeper pays VAT of Rs 36 to the government what was the price inclusive of tax at which the shopkeeper purchased the article from the wholesaler?

( please show steps also)

Answer 1

Solution:-
Let the purchase price of the article for the shopkeeper be Rs. 'x'
Tax paid by the shopkeeper to wholesaler = (x*12)/100
Shopkeeper sells an article at Rs. 1500 and pays VAT of Rs. 36 to the Government.
VAT = Tax received by the shopkeeper from customer - tax paid by the shopkeeper to the wholesaler.
36 = (12*1500)/100 - 12x/100
36 = 180 - 12x/100
12x/100 = 180 - 36
12x/100 = 144
x = 14400/12
x = Rs. 1200
So, the price of the article is Rs. 1200
Tax paid by the shopkeeper to the wholesaler = (1200*12)/100 = Rs. 144
Total amount paid by the shopkeeper to the wholesaler
 = 1200 + 144
= Rs. 1344
Answer.

Answer 2

Answer:

this is your answer

Step-by-step explanation:

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