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

${\huge {\underline {\blue {\bf {Question}}}}}$

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.

${\huge {\underline {\blue {\bf {Answer}}}}}$

Given :-

• The value of a car including VAT is 382500
• The basic price of the car be 340000

To Fine :-

• The rate of VAT on cars.

Solution :-

➭ The original price of a car is Rs. 340000

➭ The selling price of a car is Rs. 382500

${\red {\sf {VAT~ amount = Selling~ price - Cost~ price}}}$

➭ VAT amount = 382500 - 340000

${\underline {\boxed {\sf {VAT~ amount = Rs. 42500}}}}$

${\red {\bf {VAT \% = }}}$ ${\red {\large {\bf \frac {VAT~ amount}{Original~ price}}}}$ ${\red {\bf {\times {100}}}}$

➭ ${\sf {VAT \% =}}$ ${\large {\sf \frac {42500}{340000}}}$ ${\times {100}}$

➭ ${\sf {VAT \% =}}$ ${\large {\sf \frac {425 {\cancel {00}}}{34 {\cancel {00}} {\cancel {00}}}}}$ ${\times {1 {\cancel {00}}}}$

➭ ${\sf {VAT \% =}}$ ${\large {\sf {\frac {425}{34}}}}$

${\underline {\boxed {\sf {VAT \% = 12.5 \%}}}}$

${\sf {\blue {\underline {Therefore,~ the~ rate~ of~ VAT~ on~ cars~ is~ 12.5 \%}}}}$.

Answer 2

Given :

• Selling price = ₹382500
• Orginal price = ₹340000

To Find :

• The rate of VAT on cars

Solution :

As per the question, we know that

• The value of a car including VAT is 382500.
• The basic price of the car be 340000

To find the rate of VAT on cars, first we have tk find VAT amount.

By using VAT amount formula,

⇒ VAT amount = SP with VAT - SP without VAT

⇒ VAT amount = 382500 - 340000

⇒ VAT amount = 42,500

Now we have to find the VAT Percent

By using VAT Percent formula,

⇒ VAT Percent = $\tt \frac{VAT \:amount}{orginal \: price} \times 100$

⇒ VAT Percent = $\tt \frac{42500}{340000} \times 100$

⇒ VAT Percent = $\frac{425}{3400} \times 100$

⇒ VAT Percent = 125 × 100

⇒ VAT Percent = 12.5%

•°• Hence, The rate of VAT on cars is 12.5%