An article is available for ₹ 1,430 inclusive of 10 % VAT. Find the list price. What will be its price if the rate of VAT changes to 12 %?
Answers
Answered by
7
Solution :
Suppose that list price of the article be Rs x
Rate of VAT = 10%
VAT = RS ( 10/100 × x)
= RS x/100
selling price of article
= Rs ( x + x/100 )
= 11x/10
the given selling price of the article is Rs 1430
11x/10 = 1430
x = 1430 × 11/10
x = 1300
now list price of the article
= 1300
VAT = 12% of 1300
VAT = 12/100 × 1300
VAT = 156
New selling price
= Rs 1300 + 156
= Rs 1456
Extra information :
Gain = SP - CP
loss = CP - SP
Gain % = gain x 100/CP
Loss % = loss x 100/CP
SP = (100 + gain %) x CP/100
CP = (100 - loss%) x CP/100
Discount % = Discount x 100/market price
Similar questions