Question

The printed price of a VCD player is Rs. 7,500. If a sales tax of $$8\mathrm{\%}$$ is charged from the buyers, find the price at which it is sold.

Answer 1

Hint: First we have to multiply the printed price with sale tax charged
Then secondly to find at which VCD player sold, we have to add printed price and sales tax
Printed Price = sales tax $\times$ printed price
Then, VCD player sold at price = Printed Price + Sales Tax

 Complete step-by-step answer:
Here we have Printed price of VCD player=Rs. 7,500
It is given that Sales tax charged from the buyers$$=8\mathrm{\%}$$
So Price at which VCD sold=?
Sale tax charged on the printed price$=\left({\displaystyle \frac{8}{100}}\right)\times 7500$
$=600$
Price at which VCD player sold=Printed price + Sales Tax
$=7500+600$
$=8100$
The price at which VCD players sold is Rs. 8100.

Note: Sales tax is an amount of money, calculated as a percentage that is added to the cost of a product or service when purchased by a consumer at a retail location. Consumers then pay the combined state and local tax rate every time they make a purchase. It is used to pay for state and local budget items like schools, roads and fire departments. Many areas rely on sales tax to fund their budgets.