Question

11. The value of a car including VAT is 382500. If the basic price of the car be 340000, find
the rate of VAT on cars.​

Answer 1

Answer:

VAT% = 12.5% (ans)

Explanation:

SP = Rs.382500/-

CP = Rs.340000/-

VAT amount = Selling price - Cost price

VAT amount = 382500 - 340000

VAT amount = Rs.42500

VAT% = VAT amount / CP × 100

VAT% = (42500/340000) × 100

VAT% = 12.5% (ans)