Raza purchased a bicycle for Rs. 6810. He had paid a VAT of 13.5%. The list price of the bicycle was = ?
A. Rs. 6696.50
B. Rs. 6140
C. Rs. 5970.50
D. Rs. 6000
Answer: Option D
Solution (By Examveda Team)
VAT % = 13.5%Cost price (including VAT) = Rs. 6810
$$\eqalign{ & \therefore {\text{List price}} = \frac{{6810}}{{113.5}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}6000 \cr} $$
This Question Belongs to Arithmetic Ability >> Profit And Loss
What is mean by VAT