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Standard XI

Accountancy

Recording Managerial Commission

A shopkeeper ...

Question

A shopkeeper sells an article at the listed price of Rs.1500 & the rate of VAT is 12% at each stage of sale.

If the shopkeeper pays a vat of Rs.36 to the government, what was the price inclusive of tax at which the shopkeeper purchased the article from the wholesaler?

Rs.672

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Rs.1300

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Rs.1344

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Rs.2688

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Rs.1400

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Solution

The correct option is C
Rs.1344

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A shopkeeper sells an article at the listed price of Rs 1500 & the rate of VAT is 12% at each stage of the sale.

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A shopkeeper sells an article at the listed price of Rs.1500 & the rate of VAT is 12% at each stage of sale. If the shopkeeper pays a vat of Rs.36 to the government, what was the price inclusive of tax at which the shopkeeper purchased the article from the wholesaler?

The correct option is C Rs.1344

A shopkeeper sells an article at the listed price of Rs.1500 & the rate of VAT is 12% at each stage of sale.

If the shopkeeper pays a vat of Rs.36 to the government, what was the price inclusive of tax at which the shopkeeper purchased the article from the wholesaler?

The correct option is C
Rs.1344