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A shopkeeper has to pay 7% bonus for selling some goods. If he paid Rs 17,500 bonus and then 13% VAT, what will be marked price and the price including VAT?

User Snf
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Final answer:

To calculate the marked price of the goods, we divided the bonus amount by the bonus percentage. The bonus of Rs 17,500 represents 7% of the marked price, yielding a marked price of Rs 250,000. Adding 13% VAT to the marked price, the total price including VAT comes out to Rs 282,500.

Step-by-step explanation:

The subject of our question is Mathematics, and it involves working out percentages and calculating total cost including a value-added tax (VAT). We'll calculate the marked price of the goods before VAT and then add the VAT to find the total price.

First, let's find the marked price of the goods before VAT. The shopkeeper paid Rs 17,500 as a bonus, which is 7% of the marked price. We'll denote the marked price as MP. Therefore, 0.07 × MP = Rs 17,500. This gives us the equation:

MP = Rs 17,500 / 0.07

Upon solving:

MP = Rs 250,000

This is the marked price of the goods before adding VAT. Next, we calculate the VAT amount which is 13% of the marked price. So, 0.13 × MP = 0.13 × Rs 250,000 = Rs 32,500. Now, we add the VAT to the marked price to find the price including VAT.

Total Price including VAT = MP + VAT

Total Price including VAT = Rs 250,000 + Rs 32,500

Total Price including VAT = Rs 282,500

Thus, the marked price of the goods is Rs 250,000, and the price including VAT is Rs 282,500.

User Joaquin Iurchuk
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