Question

I had a doubt in a question. Can you help me? I'm getting the wrong answer.
A shopkeeper buys an article for Rs. 80000 and pays 5% tax. He sells it for 95000 and charges 10% tax. Find the GST paid by him if rate is 5%.

Answer 1

(i)The amount paid by shopkeeper

List Price=Rs.2500

Discount rate=30%

Discount=30% of 2500=

100

30

×2500=Rs.750

Then the price of the article after discount=2500−750=Rs.1750

Rate of sales tax=8%

∴Tax paid by the shopkeeper=8% of 1750

⇒

100

8

×1750=Rs.140

∴ shopkeeper paid the amount =1750+140=Rs.1890

(ii)The shopkeeper sell the article at printed price to the customer at 6% sales tax

∴ sales tax paid by the customer =8% of 2500=

100

8

×2500=Rs.200

Then the price paisd by the customer=2500+200=Rs.2700

(iii)VAT paid by the shopkeeper

VAT=tax paid by the customer-Tax paid by the shopkeeper

VAT=200−140=Rs.60

Answer 2

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