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During COVID-19 Global lock down, there is shortage of Air Conditioner's supply in the market in the month of April 2020. Nesto Electronics store

During COVID-19 Global lock down, there is shortage of Air Conditioner's supply in the market in the month of April 2020. Nesto Electronics store raises the price of an Air Conditioner by 15% above the list price and charges a VAT of 10 % on the new price. A customer has to pay RO 750 for the Air Conditioner including VAT. a) Find the original list price of the Air Conditioner. b) Why did VAT charge on the new increased price of the AC? Discuss with reason c) Do you agree with Nesto's move to increase the price? Discuss analytically (3+1+1=5 Marks)

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