marked price of an article is rs2860and a rate of VAT is 8% . Shopkepper allows a discount of 20% and still makes a profit of 10% . If he spent 4% as overheads ,then find the original cost price of an article and final sellling price including VAT .
Asked by Sanjay
| 24th Apr, 2017,
07:54: PM
Expert Answer:
MP = Rs. 2860
VAT = 8%
After VAT Selling Price = 8%Rs. 2860 + Rs. 2860 = Rs. 3088.80
Sale Price after a discount of 20% = Rs. 3088.80 - 20%(Rs. 3088.80) = Rs. 2471.04
Price before VAT is applied = 2860 - 20% = Rs. 2288
Let the Cost Price be x.
Since the overheads are 4%, the new CP will be 1.04x.
So, profit = 2,288 - 1.04x
profit % = 
Hence, the Cost Price of the article is Rs. 2000 and the final Selling price including VAT will be Rs. 2471.04.
Sale Price after a discount of 20% = Rs. 3088.80 - 20%(Rs. 3088.80) = Rs. 2471.04
Price before VAT is applied = 2860 - 20% = Rs. 2288
Let the Cost Price be x.
profit % =
Hence, the Cost Price of the article is Rs. 2000 and the final Selling price including VAT will be Rs. 2471.04.
Answered by Rebecca Fernandes
| 24th Nov, 2017,
12:59: PM
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