Question

Find the rate of VAT if an article marked at ₹5000is sold for ₹ 5200?

Answer 1

Answer:

Solution :

Given,

Price of Article without Tax = 5000 Rs

Price article after tax = 5200 Rs

Find the rate of tax percentage = ?

 Tax = 52000 -5000

=> 200 Rs

.°. Tax  =  200  Rs

Tax  % = $\frac{200}{5000}$ × 100

The rate of sales tax % is  4%

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@GauravSaxena01

Answer 2

The "rate of VAT" in the article is = 4%

Given:

The marked price of the article is Rs 5000

The sold price of the article is Rs 5200

To find:

The "rate of VAT" in the article.

Solution:

The marked price of the article = Rs 5000

The sold price of the article is = Rs 5200

The amount of VAT in the article = (sold price - marked price)

= (5200 - 5000)

= Rs 200

The rate of VAT in the article is given below:

$Rate \ of \ VAT =\left(\frac{\text {The amount of } VAT}{\text {Marked price}}\right) \times 100$

$=\left(\frac{200}{5000}\right) \times 100$

$=(0.04 \times 100)$

"Rate of VAT" in the article = 4%