Article Is Purchased For Rupees Is 9408 With The GST Of 12 Percentage Find Its Marked Price
Understanding the Problem
In this article, we will learn how to calculate the marked price of a purchased item when the cost price and GST rate are given. We will use a real-life example to illustrate the concept.
Given Information
- Cost price of the item = ₹ 9408
- GST rate = 12%
Calculating the Marked Price
To calculate the marked price, we need to first calculate the GST amount and then add it to the cost price.
Step 1: Calculate the GST Amount
GST amount = (Cost price * GST rate) / 100
Step 2: Calculate the Marked Price
Marked price = Cost price + GST amount
Calculations
Let's calculate the GST amount and marked price using the given values.
- GST amount = (9408 * 12) / 100 = ₹ 1130.56
- Marked price = 9408 + 1130.56 = ₹ 10538.56
Conclusion
In this article, we learned how to calculate the marked price of a purchased item when the cost price and GST rate are given. We used a real-life example to illustrate the concept and calculated the GST amount and marked price using the given values.
Example Use Cases
This concept can be applied in various real-life scenarios, such as:
- Calculating the marked price of a product when the cost price and GST rate are given.
- Determining the GST amount and marked price of a service when the cost price and GST rate are given.
- Comparing the prices of different products or services with and without GST.
Tips and Tricks
- Always calculate the GST amount and marked price separately to avoid errors.
- Use a calculator or a spreadsheet to perform the calculations.
- Round off the values to the nearest rupee to avoid decimal points.
Frequently Asked Questions
Q: What is the marked price of an item when the cost price is ₹ 9408 and the GST rate is 12%?
A: The marked price of the item is ₹ 10538.56.
Q: How do I calculate the GST amount?
A: To calculate the GST amount, multiply the cost price by the GST rate and divide by 100.
Q: What is the GST rate?
A: The GST rate is 12%.
Q: How do I calculate the marked price?
A: To calculate the marked price, add the GST amount to the cost price.
Conclusion
Q: What is the formula to calculate the marked price with GST?
A: The formula to calculate the marked price with GST is:
Marked price = Cost price + (Cost price * GST rate) / 100
Q: How do I calculate the GST amount?
A: To calculate the GST amount, multiply the cost price by the GST rate and divide by 100.
GST amount = (Cost price * GST rate) / 100
Q: What is the GST rate?
A: The GST rate is a percentage that is applied to the cost price of an item. In India, the GST rate ranges from 0% to 28%.
Q: How do I calculate the marked price if the GST rate is 18%?
A: To calculate the marked price with a GST rate of 18%, use the following formula:
Marked price = Cost price + (Cost price * 18) / 100
Q: What is the difference between the cost price and the marked price?
A: The difference between the cost price and the marked price is the GST amount. The GST amount is the amount of tax that is added to the cost price to calculate the marked price.
Q: Can I calculate the marked price if the GST rate is not a whole number?
A: Yes, you can calculate the marked price even if the GST rate is not a whole number. For example, if the GST rate is 12.5%, you can calculate the marked price as follows:
Marked price = Cost price + (Cost price * 12.5) / 100
Q: How do I calculate the marked price if the cost price is in decimal form?
A: To calculate the marked price if the cost price is in decimal form, you can multiply the cost price by the GST rate and divide by 100, just like you would with a whole number.
Q: Can I use a calculator to calculate the marked price?
A: Yes, you can use a calculator to calculate the marked price. Simply enter the cost price and GST rate into the calculator and multiply the two numbers together, then divide the result by 100.
Q: How do I calculate the marked price if I have a list of items with different GST rates?
A: To calculate the marked price for a list of items with different GST rates, you can use a spreadsheet or a calculator to perform the calculations. Simply enter the cost price and GST rate for each item into the spreadsheet or calculator, and multiply the two numbers together, then divide the result by 100.
Q: Can I calculate the marked price if I have a GST rate of 0%?
A: Yes, you can calculate the marked price even if the GST rate is 0%. In this case, the marked price will be the same as the cost price.
Q: How do I calculate the marked price if I have a GST rate of 28%?
A: To calculate the marked price with a GST rate of 28%, use the following formula:
Marked price = Cost price + (Cost price * 28) / 100
Conclusion
In this article, we answered some frequently asked questions on calculating marked price with GST. We provided formulas and examples to help you understand the concept and calculate the marked price with different GST rates.