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Q.

Prachi bought medicines from a medical store as prescribed by her doctor for ₹ 36.40 including 4% VAT. The VAT % is ____.


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Detailed Solution

Prachi bought medicines from a medical store as prescribed by her doctor for ₹ 36.40 including 4% VAT. The VAT % is ₹ 1.4.
Given, Prachi bought medicines from a medical store as prescribed by her doctor for ₹ 36.40 including 4% VAT.
Price before VAT added = price after VAT added - VAT.
Let the price before added be x.
x = 36.4 - 4% of x
x = 36.4 - 0.04x
1.04x = 36.4
x = 36.41.04 = 35
Hence, the price before VAT was added is ₹ 35.
VAT is MP - SP = 36.4 - 35 = 1.4.
Hence, the correct answer is ₹ 1.4.
 
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