the cost of an article is Rs 10,000 and it is sold at same profit. if a customer bought it for Rs 12430 with 13% VAT calculate the profit percent on the article.​

Percentage profit = 11.3%

Step-by-step explanation:

Given the following data;

To calculate the profit percentage on the article;

First of all, we would determine the value-added (vat) tax levy;

Vat levy = 0.13 * 10000

Vat levy = Rs. 1300

Profit = selling price - cost price

Profit = 12430 - 10000

Profit = 2430

Profit after vat;

Profit after vat = Profit - Vat levy

Profit after vat = 2430 - 1300

Profit after vat = 1130

Next, we would calculate the profit percentage on the article;

Substituting the values into the formula, we have;

Percentage profit = 11.3%

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step-by-step explanation:

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