After allowing a 20% discount on the marked price of a laptop,13% Value Added Tax (VAT) was levied on it. If the laptop was sold for Rs. 48,816, calculate the marked price.
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Step-by-step explanation:
A value-added tax (VAT), known in some countries as a goods and services tax (GST), 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. If the ultimate consumer is a business that collects and pays to the government VAT on its products or services, it can reclaim the tax paid. It is similar to, and is often compared with, a sales tax.
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