Question 47

Additional expenses made after buying an article are included in the cost price and are known as Value Added Tax.

Open in App

Solution

False

In the selling price (known as MRP) include the tax known as VAT (Value Added Tax). Hence, VAT is always included in selling price.

Suggest Corrections

Similar questions

Question 47

Additional expenses made after buying an article are included in the cost price and are known as Value Added Tax.

Question 30

___ expenses are the additional expenses incurred by a buyer for an item over and above its cost of purchase.

Q. The sale price of an article including the Sales Tax is Rs 616. The rate of Sales Tax is 10%. If the shopkeeper has made a profit of 12%, then the cost price of the article is

Q. Tick (✓) the correct answer:
A man buys an article for Rs 150 and makes overhead expenses which are 10% of the cost price. At what price must he sell it to gain 20%?
(a) Rs 182
(b) Rs 192
(c) Rs 198
(d) Rs 208

A trader buys an unfinished article for Rs. 2400 and spends Rs. 400 on its finishing and marks up the price of the article 16% above its cost price to gain a profit. How much will the customer pay including 25% tax?

Join BYJU'S Learning Program

Explore more

Sales Tax / VAT

Standard VIII Mathematics

Join BYJU'S Learning Program

Question 47 Additional expenses made after buying an article are included in the cost price and are known as Value Added Tax.

False In the selling price (known as MRP) include the tax known as VAT (Value Added Tax). Hence, VAT is always included in selling price.

Question 47

Additional expenses made after buying an article are included in the cost price and are known as Value Added Tax.

False

In the selling price (known as MRP) include the tax known as VAT (Value Added Tax). Hence, VAT is always included in selling price.