The MP of a dogital camera is Rs 24000.If VAT rate is double of the discount percent and the price with the VAT is 8%more than the MP find the rate of VAT.
Answers
Answer:
Marked Price
The price on the label of an article/product is called the marked price or list price. This is the price at which product is intended to be sold. However, there can be some discount given on this price and the actual selling price of the product may be less than the marked price. It is generally denoted by MP.
When Discount is offered, M.P. > S.P.
When Discount is not offered, M.P. < S.P.
Marked Price
Sometimes marked price is used as a psychological tool for customers. For example, a set of headphones is being sold at Rs 999/-. One company has set the marked price at Rs 1000/- thus showing a little discount on the marked price. Another company sells the same product at the same cost but marks it at Rs. 1499/- thus giving the illusion of a heavy