Question

Manoj buys a leather coat cost Rs 900.at Rs.990 after paying the VAT.calculate the rate of VAT..?

Answer 1

Find the amount of VAT:

VAT = 990 - 900 = Rs 90

Find the rate of the VAT:

Rate of the VAT = vat/cost price x 100

Rate of the VAT = 90/900 x 100 = 10%

Answer: The VAT is 10%

Answer 2

given

cost price

Including VAT = Rs 990

excluding VAT = Rs 900

VAT = 990 - 900 = 90.

Rate Percent of VAT = VAT / cost price x 100

= 90 / 900 x 100 = 10%.

hence , rate of VAT percentage = 10%