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Question 898096: Net price of a product is 6130 which includes 10.3% excise duty om base price and then 2% CST on Base price plus Excise duty. What is the formula to find the base price.
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! the base price of the product is b.
the excise price of the product is e.
the net price of the product is n.
you get:
e = .103 * b + b which is equal to 1.103 * b.
n = e + .02 * e which is equal to 1.02 * e.
in the equation of n = 1.02 * e, replace e with it's equivalent of 1.103 * b to get:
n = 1.02 * 1.103 * b
solve for b to get:
b = n / (1.02 * 1.103)
simplify to get:
b = n / 1.12506
since n = 6130, this means that b = 5448.598297.
since e = 1.103 * b, you get e = 6009.803922.
since n = 1.02 * e, you get n = 6130.
everything checks out ok.
your base price is equal to 5448.598297...
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