Question

The cost of an article is Rs.550 after adding 10% VAT. Find its price without VAT.

Answer 1

Marked price of an article= Rs. 550
Discount given= 10% of marked price=Rs. 55
So here selling price will be=
Marked price - discount given
Selling price= 550-55 = Rs. 495
Gain for the shopkeepers is Rs. 75
So cost price of articles will be=
Selling price - shopkeeper profit
Cost price= 495-75 = Rs. 420
Difference between the cost price and marked price = 550-420 = Rs. 130
Percentage of difference in marked price and cost price according to cost price
=(130 divided by 420) * 100
=0.3095*100
=30.95