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ICSE Class 10 Answered

A wholesaler buys a TV from a manufacturer for ?25,000. He marks the price of the TV 20% above his CP and sells it to a retailer at a 10% discount on the MP. If the rate of GST is 28%. Find: (i) MP (ii) retailer's CP inclusive of tax. (ii) the GST paid by the wholesaler to the government.
Asked by nishkamiglani | 28 Mar, 2023, 22:09: PM
answered-by-expert Expert Answer

Wholesaler
CP = â‚¹25,000
MP = â‚¹25,000 + 20% of â‚¹25,000 = â‚¹30,000

Retailer
CP = â‚¹30,000 - 10% of â‚¹30,000 = â‚¹27,000
CP inclusive of tax = â‚¹27,000 + 28% of â‚¹27,000 = â‚¹34,560
 
Wholeseller
CP = â‚¹25,000
SP = â‚¹27,000
Profit = â‚¹27,000 - â‚¹25,000 = ₹2000
Tax paid by Wholeller = 28% of â‚¹2,000 = ₹2,560
Answered by Arun | 30 Mar, 2023, 16:59: PM

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