The MRP of an item is ₹1200. The shopkeeper sells it at 900 rupees If the rate of GST is 12% on that item, calculate the net amount paid by the consumer including GST.
Answers
Step-by-step explanation:
let the S.P be rupees x
market price = 1200
GST = 12%
M.P = (100 + discount % / 100 )x S.P
x = ( 100 + 12 / 100 ) x 900
x = (112 / 100 ) x 900
x = 1008
the consumer paid rupees 1008 .
Answer:
The consumer paid rupees 1008 .
Step-by-step explanation:
Step 1: India's GST rates are broken down into four categories: 5% GST, 12% GST, 18% GST, and 28% GST. Since the beginning of the Goods and Services Tax, the GST Council has often changed the GST rates for different items (GST).
Step 2: The price at which a good or service may currently be purchased or sold is known as the market price. The dynamics of supply and demand influence the market price of a good or service. The market price is the cost at which the quantity provided and the amount requested are equal.
Step 3: Let the S.P be rupees x
market price = 1200
GST = 12%
M.P = (100 + discount % / 100 )x S.P
x = ( 100 + 12 / 100 ) x 900
x = (112 / 100 ) x 900
x = 1008
The consumer paid rupees 1008 .
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