Question

an article costs rs 4000 without VAT and rs 4400 including VAT. find the VAT amount and VAT percent?


answer fast its important ​

Answer 1

Answer:

VAT calculation formula for VAT exclusion is the following: to calculate VAT having the gross amount you should divide the gross amount by 1 + VAT percentage (i.e. if it is 15%, then you should divide by 1.15), then subtract the gross amount, multiply by -1 and round to the closest value (including eurocents).

Answer 2

Answer:

VAT Amount is Rs. 400 and VAT Percentage is 10%

Step-by-step explanation:

Here cost before VAT = Rs. 4000

Cost after VAT = Rs. 4400

VAT amount = 4400 - 4000 = Rs. 400

$VAT\% = \frac{VAT\ Amount}{Cost\ before\ VAT}\times 100$

$=\frac{400}{4000}\times 100=10\%$

Hence VAT Amount is Rs. 400 and VAT Percentage is 10%

*Note: VAT percent is same as Profit Percent for Shopkeeper. So You can use Profit Percent Formula to find VAT percent in which

CP = Amount before VAT

SP = Amount after VAT

Profit = VAT Amount