(c) A manufacturer sells an article to a wholesaler with marked price ` 2000 at a discount of 20% on the marked price. The wholesaler sells it to a retailer at a discount of 12% on the marked price. The retailer sells the article at the marked price. If the VAT paid by the wholesaler is ` 11.20, find the: (i) Rate of VAT (ii) VAT paid by the retailer.
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wholesaler buy article = 1600
retailer buy from wholesaler at 12% discount on m.p = 1760
rate of vat paid buy wholesaler = 0.7%
vat paid buy retailer = 12.32
retailer buy from wholesaler at 12% discount on m.p = 1760
rate of vat paid buy wholesaler = 0.7%
vat paid buy retailer = 12.32
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