Question

10 tolas gold bought from American market at $ 553 per tola is sold in Nepal at 20% customs duty charge and 13% VAT. At what price should it be sold ?​

Answer 1

Answer: $735.49

Explanation:

Given, the price of 10 tolas gold bought from American market = $553

Custom duty charge = 20%

VAT = 13%

Custom duty charge = 20% of $553

= 0.20 x 553 [we divide a perecntage to convet it into decimal]

= $110.6

VAT = 13% of $553

= 0.13 x 553

= $71.89

Selling price = Original price +Custom duty charge + VAT

= $553+$110.6+ $71.89

= $735.49

Hence, it should be sold at $735.49 .