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A wholesaler buys a TV from the manufacturer for Rs 25,000. He marks the price of the TV 20% above his cost price and sells it to a retailer at a 10% discount on the marked price. If the rate of VAT is 8%, find the : (i) Marked price (ii) Retailer's cost price inclusive of tax (iii) VAT paid by the wholesaler. [3 MARKS] |
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Answer» A wholesaler buys a TV from the manufacturer for Rs 25,000. He marks the price of the TV 20% above his cost price and sells it to a retailer at a 10% discount on the marked price. If the rate of VAT is 8%, find the : |
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