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Question
A manufacturer sells a product to a trader A for Rs 15,000. Trader A sold it to trader B at a profit of Rs 2,000 and trader B sold it to trader C at a profit of Rs 1,500. Trader C made a profit of Rs 2,500 when he sold it to a customer. If VAT is calculated at 5%, find the amount of tax paid to the government. Also, find the price paid by the customer for the machine.
Solution
S.P for the manufacturer= Rs 15,000
S.P. for trader A= Rs ( 15,000 + 2,000) =Rs 17,000
S.P. for trader B =Rs ( 17,000 + 1,500) =Rs 18,500
S.P. for trader C = Rs ( 18,500 + 2,500) = Rs 21,000
VAT charged by trader C = 5 % of S.P.
`= 5/100 xx "Rs" 21000`
= Rs 1,050
C.P. for the customer= S.P. + VAT
=Rs (21,000 + 1,050)
=Rs 22,050
Tax received by the government (VAT) =Rs 1,050
Price paid by customer= Rs 22,050
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