A retailer purchased an electric bicycle for Rs. 35000 and sold at a profit of 16% to a customer. How much did the customer pay for it with 13% VAT?
1 answer:
Answer:
Rs. 45,150
Step-by-step explanation:
Given data
Cost =Rs. 35000
Profit=16%
VAT=13%
Let us find the profit to be added
=16/100*35000
=0.16*35000
=Rs. 5,600
Let us find the VAT to be added
=13/100*35000
=0.13*35000
=Rs. 4,550
Hence the cost of the bike is
=4,550+ 5,600+ 35000
=Rs. 45,150
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