Question

Aman bought a shirt for Rs. 374.50 which includes $7\%$ VAT. Find the list price of the shirt.

Answer 1

Cost price of the shirt = Rs. 374.50
Rate of VAT $=7\%$
$\therefore$ List price $=\frac{374.50\times 100}{100+VAT\%}$
$=\frac{374.50\times 100}{100+7}=\frac{274.50\times 100}{107}=Rs.350$