if the sale tax of 5% is added to an item, whose selling price is Rupees 1500, find the bill amount including tax
Answers
Answer:
Discount is a reduction given on marked price.
Discount = Marked Price – Sale Price (S.P.)
• Discount can be calculated when discount percentage is given.
Discount = Discount % of Marked Price
• Additional expenses made after buying an article are included in
the cost price and are known as overhead expenses.
cost price = buying price + overhead expenses
• Sales Tax is charged on the sale of an item by the government and
is added to the Bill Amount.
Sales tax = Tax% of sale amount
These days, however, the selling prices (known as MRP) include
the tax known as VAT (Value Added Tax).
• The interest compounded annually is the interest calculated on
the previous year’s amount A, (A = P + I).
• The time period after which the interest is added each time to form
a new principal is called the conversion period.
• When the interest is compounded half yearly, there are two
conversion periods in a year of duration 6 months each.
• Amount when interest is compounded annually is
n R A P1
100
Step-by-step explanation: