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A manufacuturer marks an article for Rs 5,000. He sells it to a wholesaler at a discount of 25% on the marked price and the wholesaler sells it to a retailer at a discount of 15% on the marked price. The retailer sells it to a consumer at the marked price and at each stage the VAT is 8%. Calculate the amount of VAT received by the Government from : (i) The wholesaler (ii) The retailer [4 MARKS] |
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Answer» A manufacuturer marks an article for Rs 5,000. He sells it to a wholesaler at a discount of 25% on the marked price and the wholesaler sells it to a retailer at a discount of 15% on the marked price. The retailer sells it to a consumer at the marked price and at each stage the VAT is 8%. Calculate the amount of VAT received by the Government from : (i) The wholesaler (ii) The retailer [4 MARKS] |
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