VAT sum pls help

timer Asked: Dec 27th, 2012

Question Description

I’m trying to study for my course and I need some help to understand this question.

The manufacturer sold a TV to a wholesaler for Rs. 7000 . The wholesaler sold it to a trader at a profit of Rs. 1000. If the trader sold it to the customer at a profit of Rs.1500, Find :

i) the total VAT ( value added tax ) collected by the state government at the rate of 5%
ii) The amount that the customer pays for the TV. 

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