Question

A person purchases electronic items worth Rs 2, 50,000. The shop keeper charges him a sales tax of 21% instead of 12%. The purchaser does not realise that he has over paid. But after some time he finds that he has paid excess and asks the shop-keeper to return the excess money. The shop-keeper refuses and the purchaser moves the consumer court. The court with due hearing orders the shop-keeper to pay the purchaser the excess money paid by the way of sales tax, with an interest of 12% per annum. If the whole deliberation takes 8 months, what is the money that the purchaser gets back?

Answer 1

The extra amount paid by the customer is:

P = Rs. 22500,

R = 12%,

Therefore, the amount that the customer receives is Rs. (22500 + 1800) = Rs. 24,300