Question

After allowing 20% discount on a marked price 13% VAT was levied on an article. If it was sold for 7232 dollars, what was the marked price of the article?​

Answer 1

The marked price of the article was $7865

​Answer:

solution given:

let marked price be x=?

discount =20%

vat=13%

selling price =$7232

we have

discount amount=discount % of marked price=20/100*x=0.2 x

and

vat amount = vat% of selling price=13/100*$7232=$940.16

we have

Selling price with tax  =marked price - discount amount + vat amount

$7232=x-0.2x+$940.16

$7232-$940.16=x-0.2x

0.8x=$6291.84

x=$6291.84/0.8

x=$7864.8