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Question
Prachi bought medicines from a medical store as prescribed by her doctor for Rs 36.40 including 4% VAT. Find the price before VAT was added.
Solution
Given that, the price of medicine including 4% VAT is 36.40.
We have, selling price = cost price + VAT
⇒ Cost price = Selling price – VAT
⇒ The price before VAT was added = price including VAT – VAT
⇒ The price before VAT was added = `36.40 - 4/100 xx 36.40`
= 36.40 – 1.456
= Rs. 34.944
= Rs. 35
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