if the selling price of an article is rs x and the value added tax amount is rs y what is the rate of value added tax.
Answers
Answer:
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Answer:
Required the rate of value added tax is
Step-by-step explanation:
Given,
Selling price of an article is x rupees and value added tax amount is y rupees.
We always add tax on selling price.
So here selling price is 100%.
By Unitary method we can solve this.
But first we should know use of Unitary method.
If cost of 1 apple is 5 rupees
then by cost of 10 apples is (5×10) = 50 rupees.
Here selling price x rupees means 100%
then by Unitary method 1 rupees means
and y means
This is a problem of Profit and loss.
Some important formulas of Profit and loss,
Profit = Selling price - Cost price
Loss = Cost price - Selling price
Know more about Profit and loss-
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