Question

Example 2. The price of a microwave is 10,000 and after including VAT, its cost is 11,250. Find the rate
of VAT charged on it.​

Answer 1

Answer:

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Answer 2

VAT = 12.5%

Find the marked price including VAT

Marked Price = 100%

VAT = 12.5%

Marked Price including VAT = 100 + 12.5 = 112.5%

Find the marked price:

Marked Price including VAT = 112.5%

Marked Price including VAT = Rs 9000

112.5% = Rs 9000

1% = 9000 ÷ 112.5 = Rs 80

100% = 80 x 100 = Rs8000

Answer: The Marked Price is Rs 8000