For 50 points
A manufacturer listed the price of his goods at Rs 160 per article. He allowed a discount of 25% to a wholesaler who in turn allowed a discount of 20% on the listed price to a retailer. The rate of sales tax on the goods is 10%. If the retailer sells one article to a consumer at a discount of 5% on the listed price, then find,
(1).the VAT paid by the wholesaler.
(2).the VAT paid by the retailer.
(3).the VAT received by the Government.
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Answers
Answered by
10
Hey mate ^_^
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Answer:
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(1) For the manufacturer, the selling price of article
=160−25% of 160
=160−25/100 ×160
=Rs. 120
Input Tax for the wholesaler =10% of 120=10/100×120=Rs. 12
For the wholesaler, the selling price of article
=160−20% of 160
=160−20/100×160
=Rs. 128
Output tax for the wholesaler
=10% of 128
=10/100×128
=Rs. 12.8
VAT paid by the wholesaler
=Output Tax−Input tax
=12.8−12
=Rs. 0.80
(2) For the retailer, the selling price of the article
=160−5% of 160
=160−5/100×160
=Rs. 152
Input Tax paid by the retailer = Output tax for the wholesaler = Rs. 12.8
Output Tax paid by the retailer
=10% of 152
=10/100×152
=Rs. 15.2
VAT paid by the retailer =15.2−12.8=Rs 2.40
(3) VAT received by the government
=10% of 152
=10/100×152
=Rs 15.20
#Be Brainly❤️
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Answer:
=======
(1) For the manufacturer, the selling price of article
=160−25% of 160
=160−25/100 ×160
=Rs. 120
Input Tax for the wholesaler =10% of 120=10/100×120=Rs. 12
For the wholesaler, the selling price of article
=160−20% of 160
=160−20/100×160
=Rs. 128
Output tax for the wholesaler
=10% of 128
=10/100×128
=Rs. 12.8
VAT paid by the wholesaler
=Output Tax−Input tax
=12.8−12
=Rs. 0.80
(2) For the retailer, the selling price of the article
=160−5% of 160
=160−5/100×160
=Rs. 152
Input Tax paid by the retailer = Output tax for the wholesaler = Rs. 12.8
Output Tax paid by the retailer
=10% of 152
=10/100×152
=Rs. 15.2
VAT paid by the retailer =15.2−12.8=Rs 2.40
(3) VAT received by the government
=10% of 152
=10/100×152
=Rs 15.20
#Be Brainly❤️
Answered by
13
1. For the manufacturer, the selling price of article
=160−25% of 160
=160−25/100 ×160
=Rs. 120
Input Tax for the wholesaler =10% of 120=10/100×120=Rs. 12
For the wholesaler, the selling price of article
=160−20% of 160
=160−20/100×160
=Rs. 128
Output tax for the wholesaler
=10% of 128
=10/100×128
=Rs. 12.8
VAT paid by the wholesaler
=Output Tax−Input tax
=12.8−12
=Rs. 0.80
2. For the retailer, the selling price of the article
=160−5% of 160
=160−5/100×160
=Rs. 152
Input Tax paid by the retailer = Output tax for the wholesaler = Rs. 12.8
Output Tax paid by the retailer
=10% of 152
=10/100×152
=Rs. 15.2
VAT paid by the retailer =15.2−12.8=Rs 2.40
3. VAT received by the government
=10% of 152
=10/100×152
=Rs 15.20
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