A washing machine is sold for Rs 15,912 inclusive of GST. The cost of the washing machine, excluding GST, would be when the rate of GST is 17%?
IBA STS Screening Test Bps 05 to 15 Past Papers and Syllabus / All — Multiple-choice practice
- A. 13600
- B. 15200
- C. None of these
- D. 14200
Correct answer
13600
Explanation
Explanation Let's say the cost price (CP) of the washing machine is x. Given that the GST rate is 17%, the selling price (SP) would be: SP = x + 0.17x SP = 1.17x Given that SP = Rs 15,912: 1.17x = 15912 x = 15912 / 1.17 x = 13600
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