Answer
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Hint: VAT is the value added tax on the original price. If VAT is included in the selling price, the value of the selling price would be equal to the original price and VAT percentage of original price.
Complete step-by-step answer:
Given:
Selling price = 19,610
Vat = 6%
Let the original price be x.
Therefore, selling price including VAT can be written as:
$SP = x + \dfrac{{6x}}{{100}} $ $\left( {\text{As VAT}} = 6\% = \dfrac{6}{{100}} \right) $
Substituting the value of Selling price, we get:
$19610 = x + \dfrac{{6x}}{{100}} $
$19610 = \dfrac{{100x + 6x}}{{100}}\left( {{\text{By taking LCM}}} \right) $
$19610 = \dfrac{{106x}}{{100}} $
Or
$\dfrac{{106x}}{{100}} = 19610 $
Calculating for x:
$x = \dfrac{{19610 \times 100}}{{106}} $
$x = 18500 $
Therefore, the original price of the cooking range having a selling price 19,610 is 18,500.
Note: Generally: VAT is included in the SP and is calculated on the original price , but not compulsorily. VAT is a tax added on the goods when transferred from manufacturer to the consumer and is also recognised by the Government.
Complete step-by-step answer:
Given:
Selling price = 19,610
Vat = 6%
Let the original price be x.
Therefore, selling price including VAT can be written as:
$SP = x + \dfrac{{6x}}{{100}} $ $\left( {\text{As VAT}} = 6\% = \dfrac{6}{{100}} \right) $
Substituting the value of Selling price, we get:
$19610 = x + \dfrac{{6x}}{{100}} $
$19610 = \dfrac{{100x + 6x}}{{100}}\left( {{\text{By taking LCM}}} \right) $
$19610 = \dfrac{{106x}}{{100}} $
Or
$\dfrac{{106x}}{{100}} = 19610 $
Calculating for x:
$x = \dfrac{{19610 \times 100}}{{106}} $
$x = 18500 $
Therefore, the original price of the cooking range having a selling price 19,610 is 18,500.
Note: Generally: VAT is included in the SP and is calculated on the original price , but not compulsorily. VAT is a tax added on the goods when transferred from manufacturer to the consumer and is also recognised by the Government.
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