if 10% is vat is charged on an article bought by sandeep for rupees 6930 what is the selling price of the article
Selling price =cp*(100+10%)
____________
100
=6930*110
________
100
=Rs 7623
To calculate the selling price (including VAT), we need to add the VAT amount to the purchase price.
Step 1: Calculate the VAT amount.
To find the VAT amount, multiply the purchase price by the VAT rate (10% or 0.10).
VAT = Purchase Price * VAT Rate
VAT = 6930 * 0.10
Step 2: Add the VAT amount to the purchase price.
Selling Price = Purchase Price + VAT
Selling Price = 6930 + VAT
Now, let's calculate the VAT amount and selling price.
Step 1: Calculate the VAT amount.
VAT = 6930 * 0.10
VAT = 693
Step 2: Add the VAT amount to the purchase price.
Selling Price = 6930 + VAT
Selling Price = 6930 + 693
Selling Price = 7623
Therefore, the selling price of the article is Rs. 7623.
Selling price =cp*(100+10%)
____________
100
=6930*110
________
100
=Rs 7623