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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, 10:09: PM
answered-by-expert Expert Answer

Wholesaler
CP = ₹25,000
MP = ₹25,000 + 20% of ₹25,000 = ₹30,000

Retailer
CP = ₹30,000 - 10% of ₹30,000 = ₹27,000
CP inclusive of tax = ₹27,000 + 28% of ₹27,000 = ₹34,560
 
Wholeseller
CP = ₹25,000
SP = ₹27,000
Profit = ₹27,000 - ₹25,000 = ₹2000
Tax paid by Wholeller = 28% of ₹2,000 = ₹2,560
Answered by Arun | 30 Mar, 2023, 04:59: PM
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