Mr. Yadav buys 100 cycles of same model from India and marked each cycle with price Rs 5,000. He allows 10% discount in each cycle and sells all the cycles by levying 13% VAT. (a) What is the formula to calculate the price of cycle after allowing discount? [1] (b) Calculate the selling price of all cycles with VAT. [2] (c) If he deposits half of the selling price of all cycles excluding VAT in a bank for next one year at 12% p.a., how much net interest will he get if 5% of interest is charged as income tax%?
