Question

If the rate of VAT increases by 2% then selling
price of an article goes up by 140. Find the
market price of the article.

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Answer 1

Answer:

Let, market price be Rs.x

% of VAT increase = 2%

VAT increase = 2% of x = Rs.x/50

As per question -

x/50 = 140

=> x = 140 *50

=> x = 7000

Therefore, market price of the article is Rs.7000.00