Question

solve this question and send your answer...

Answer 1

Given that Selling price of the Music System = 48000.

Given that Cost Price of the Music System = 40000.

VAT Amount = 48000 - 40000

                      = 8000.


VAT % = VAT/CP * 100

            = 8000/40000 * 100

            = 20.


Therefore the VAT he has paid = 20%.


Hope this helps!