Question

Q. An article has a value added tax of 15% imposed on it. If the marked price of the article is Rs 6400. Calculate the total amount a man has to pay if he wants to buy it.


(Please give correct answer)

Answer 1

First we have to find the VAT(value added tax) on M.P

A/Q,

15% of 6400

= 15/100×6400

= 960

VAT= Rs 960

So, Total amount= VAT + M.P

= Rs(960+6400)

= Rs 7360

Therefore, the Total amount of the article is Rs 7360.

Hope it helps you, Friend.