Question

A TV set was bought for Rs 26250 including 5% VAT. The original price of the TV set is
a) Rs 27562.50
b) Rs 25000
c) Rs 24937.50
d) Rs 26245
And Please tell me what is the role of VAT in this question?

Answer 1

Answer:

Step-by-step explanation:

Let the cost of TV be x

vat=5% of x

so x+5x/100=26250

21x/20=26250

x=26250*20/21

x=25000

VAT=Value-added tax

A value-added tax, known in some countries as a goods and services tax, is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer.

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