Question

A retailer purchased an electric bicycle for Rs. 35000 and sold at a profit of 16% to a customer. How much did the customer pay for it with 13% VAT? ​

Please help

Answer 1

Rs. 45,150

Explanation:

Given data

Cost =Rs. 35000

Profit=16%

VAT=13%

Let us find the profit to be added

=16/100*35000

=0.16*35000

=Rs. 5,600

Let us find the VAT to be added

=13/100*35000

=0.13*35000

=Rs. 4,550

Hence the cost of the bike is

=4,550+ 5,600+ 35000

=Rs. 45,150