SOLUTION: Mohit a dealer in electronic goods , buys a high class TV sets for rs. 61200. He sells this TV set to Geeta, Geeta to Rohan and Rohan sells it to Manoj. If the profit at each

Question 1073357: Mohit a dealer in electronic goods , buys a high class TV sets for rs. 61200. He sells this TV set to Geeta, Geeta to Rohan and Rohan sells it to Manoj. If the profit at each stage is rs. 2000 and the rate of VAT at each stage is 12.5% find
i) Total amount of tax(under VAT) paid to the govt.
ii) Money paid by manoj to buy the TV set.

Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
i)If the TV set is initially 61200, then
Mohit to Geeta=61200+2000=63200 x 1.125=71100
Geeta to Rohan=71100+2000=73100 x 1.125=82237.50
Rohan to Manoj=82237.50+2000=84237.50 x 1.125=92517.18
(71100-63200)+(82237.50-73100)+(92517.18-84237.50)=Total VAT which equals rs.25317.
ii)Manoj paid Rs. 92517.18 for the TV set. ☺☺☺☺
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