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Question
Sarita buys goods worth Rs 5500. She gets a rebate of 5% on it. After getting the rebate if VAT at the rate of 5% is charged, find the amount she will have to pay for the goods.
Solution
Given ,
Price of goods is = Rs 5500
Discount = 5%
VAT = 5% of selling price
So,
Selling price = `95/100 xx 5500 = "Rs" 5225`
And,
VAT = `5/100 xx 5225 = "Rs" 261.25`
∴ Sarita has to pay an amount of Rs (5225 + 261.25) = Rs 5486.58 for the goods
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