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Question
The marked price of an article is ₹7500. A shopkeeper sells the article to a consumer at the marked prices and charges sales tax at . the rate of 7%. If the shopkeeper pays a VAT of ₹105, find the price inclusive of sales tax of the article which the shopkeeper paid to the wholesaler.
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Solution
Marked price of an article = ₹7500
Rate of S.T. = 7%
∴ Total tax
= `₹(7500 xx 7)/(100)`
= ₹525
and VAT paid by the shopkeeper = ₹105
Difference of tax(VAT)
= ₹525 - ₹105
= ₹420
∴ Tax
= ₹420 and rate = 7%
∴ C.P. of the shopkeeper
= `₹(420 xx 100)/(7)`
= ₹6000
and total C.P. paid by the shopkeeper
= ₹6000 + ₹420
= ₹6420.
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