## The list price of an article is 6,000. A shopkeeper sells the article to a consumer at the list price and charges sales tax at 8%.

Question

The list price of an article is 6,000. A shopkeeper sells the article to a consumer at the list price and charges sales tax at 8%. If the shopkeeper pays a VAT of 2 64 to the state government, at what price, inclusive of sales tas, did the shopkeeper buy the article from the wholesaler ?

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2 months 2021-07-27T21:47:40+00:00 2 Answers 0 views 0

A drug is any substance (with the exception of food and water) which, when taken into the body, alters the body’s function either physically and/or psychologically. Drugs may be legal (e.g. alcohol, caffeine and tobacco) or illegal (e.g. cannabis, ecstasy, cocaine and heroin).

Shopkeeper sell the article at list price=Rs.3000

Rate of sales tax=12%

VAT paid by the shopkeeper=Rs.72

Tax earned by the shopkeeper=12% of 3000=

100

12

×3000=Rs.360

VAT=tax earned by the shopkeeper-Tax paid by the shopkeeper

∴Tax paid by the shopkeeper=Tax earned by the shopkeeper-VAT

⇒360−72=Rs.288

Let the shopkeeper by the article at Rs.x

∴12% of x=288

100

12x

=288

⇒x=

12

288×100

=Rs.2400

Price of the article inclusive tax=2400+288=Rs.268