Question

a shopkeeper marks the price of a television 30% above the cost price and allow 20% discount . the purchase price of television is Rs 12000. if a customer pays Rs 14102.40 for the TV including vat ,find the vat percent. {Ans 13%}​

Answer 1

Explanation:

cost = 12,000

list price = 1.30×12,000 = 15,600

discounted price = 0.80×15,600 = 12,480

purchase price = (1+VAT)×12,480 = 14,102.40

1+VAT = 14,102.40/12,480 = 1.13

VAT = 0.13 = 13%