Question

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

Answer 1

lets take market price = y

cost price as = x

lets setup a equation for market price

y = x + 140

Market price = cost price + VAT

x + 140 = (x * 2/100) + (x) { VAT + CP }

102x/100= x + 140

(102x/100) - x = 140

2x/100 = 140

x= 14000/2

x=7000

now we have X that is cost price

Market price = x + 140

Market price = 7000 + 140

= 7140 rs

I hope you understand this question.

have a nice day :)

Answer 2

Answer:

The answer is

= 137.25$