MP of the fan is 2400.
To find the mp of the fan.
What is profit and loss?
To buy goods from the shopkeepers in the market which they buy either directly from the manufacturers or through the wholesalers.
Given:
let’s calculate backwards :
2244 = 100% sale price + 10% VAT = 110%
1% = 2244 / 110 = 20.40
100% (actual sale price) = 20.40×100 = 2040
Now, because of the 15% discount, these 2040 are only 85% of the originally marked price.
2040 = 85%
1% = 2040 / 85 = 24.00
100% (the original marked price) = 24×100 = 2400
2244 is the final price. it includes the VAT based on the actual sale price. and that is then actually 15% lower than the originally marked price.
So, the MP of the fan is 2400.
Learn more about profit and loss here:
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