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The printed price of an article is Rs 60,000. The wholesaler allows a discount of 20% to the shopkeeper. The shopkeeper sells the article to the customer at the printed price. Sales tax (under VAT) is charged at the rate of 6% at every stage. Find : (i) The cost to the shopkeeper inclusive of tax. (ii) VAT paid by the shopkeeper to the Government. (iii) The cost to the customer inclusive of tax [3 MARKS] |
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Answer» The printed price of an article is Rs 60,000. The wholesaler allows a discount of 20% to the shopkeeper. The shopkeeper sells the article to the customer at the printed price. Sales tax (under VAT) is charged at the rate of 6% at every stage. Find : (i) The cost to the shopkeeper inclusive of tax. (ii) VAT paid by the shopkeeper to the Government. (iii) The cost to the customer inclusive of tax [3 MARKS] |
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