the market price of an article is Rs 8200 if it is sold with 15% discount at Rs 7667 including VAT find the vat percent
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Answer:
Marked Price =Rs.2860
Vat =8%
∴S.P=M.P(1+
100
vat%
)
=2860(1+
100
8
)
=Rs.3088.8
Discount =20%
∴ Actual SP=3088.8(1−
100
20
)
=2471.04
Now,
Price without vat =2860(1−
100
20
)
=2288
Let the cost price be
′
X
′
Overheads =4%
∴NetC.P=X(1+
100
4
)
=1.04X
Profit%=( C.P S.P−C.P )×100%
ATP,
10=
1.04X
2288−1.04X ×100
⇒10.4X=228800−104X
⇒114X=228800
⇒X=2000
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