Question

colour TV is available for 26880 inclusive of vat if original cost of TV is 24000 find rate of vat

Answer 1

vat = 26880- 24000 = 2880

now Vat = 2880= x/100 × 24000

where x= rate of vat

by solving for x we get
x= 2880/240 = 12

rate of vat is 12%

Answer 2

Answer:

Rate if VAT is 12%

Step-by-step explanation:

Let the rate of VAT be x%. Then,

24000 + x% of 24000 = 26880

⇒$( \frac{x}{100} \times 24000) = (26880 - 24000)$

⇒$240x = 2880$⇒$x = \frac{2880}{240} = 12$

∴ rate of VAT is 12%