Ranjeet purchased a bicycle for ₹7,200

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Profit and Loss

Question:

Ranjeet purchased a bicycle for ₹7,200. He had paid a VAT of 13.5%. The list price of the bicycle is :

Options:

₹5,732

₹6,343

₹3,836

₹7,350

Correct Answer:

₹6,343

Explanation:

Amount including VAT = 100% + 13.5% = 113.5%

ATQ,

113% = 7200

1% = 7200/113.5

100% = 7200/113.5 x 100

= 6343 ( approx)