A customer purched a bicycle for Rs 10716 with VAT. If its cost without VAT is Rs 9400, calculate the rate of VAT.
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Answer: ₹1316
Step-by-step explanation:
Cost of bicycle with VAT = ₹10716
Cost of bicycle without VAT = ₹9400
Therefore, cost of VAT = ₹10716 - ₹9400 = ₹1316
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