Question

One kg of ghee costs Rs 588 which includes 12 % of GST. Find the price of 1 kg of ghee before tax and the amount of tax on it (with solution)​

Answer 1

Answer:

l kg ghee before tax 517.44

And amount of tax is 70.56

Answer 2

Answer:

Step-by-step explanation:

Concept:

              The majority of products and services sold for domestic use are subject to the goods and services tax (GST), a value-added tax (VAT). Consumers pay the GST, but businesses that sell the products and services are responsible for remitting it to the government.The generation-skipping trust, often known as GST, should not be confused with the goods and services tax (and its related taxation, GST).

Given:

• Ghee costs Rs. 588
• Gst tax is 12%

Find:

• The price of 1 kg of ghee before tax
• The amount of tax on it

Solution:

                           GST =12x/100

                                   =12×588/100

                                   =70.56

Let the actual price be x

                               x=588 -70.56

                               x= 517.44

so, the amount of tax is 70.56 and

     The actual orice of ghee is 517.44

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