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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!
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!
lakshya1001:
shai
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