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ICSE Class 10 Answered

A shopkeeper sells an article at the listed price of Rs. 1500and the rate of VAT is 12% at each stage of sale. If the shopkeeper pays a VAT of Rs 36 to the government, what was the price, inclusive of Tax, at which the shopkeeper purchased the article from the wholesaler?
Asked by sanjaysingh | 23 Sep, 2015, 09:32: AM
answered-by-expert Expert Answer
Suppose space shopkeeper space purchased space the space article space from space wholesaler space at space Rs. straight x. tax space paid space by space shopkeeper space to space wholeseller space equals space 12 over 100 straight x left parenthesis straight x right parenthesis............. left parenthesis 1 right parenthesis Shopkeeper space sells space an space article space at space Rs. space 1500 space and space pays space VAT space of space Rs. space 36 space to space government. VAT space equals space Tax space received space by space shopkeeper space from space customer space minus space tax space paid space by space shopshopkeeper space to space wholeseller 36 space equals space 12 over 100 cross times 1500 minus 12 over 100 straight x left parenthesis straight x right parenthesis space space space space space space space space space space space space space space space space space space space space space space space space space space left square bracket from space left parenthesis 1 right parenthesis right square bracket 36 equals space 180 space minus space fraction numerator 12 straight x over denominator 100 end fraction space fraction numerator 12 straight x over denominator 100 end fraction equals space 144 straight x space equals space 1200 The space price space of space the space article space is space Rs space 1200. Tax space paid space by space the space space shopkeeper space to space wholeseller space equals space Rs. space 144. Total space amount space paid space by space space shopkeeper space to space wholeseller space space Rs. space 1200 space plus space Rs. space 144 space equals space Rs. space 1344.
Answered by Vijaykumar Wani | 23 Sep, 2015, 11:11: AM
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