Q11 of 94 Page 139

The value of a car including VAT is Rs. 382500. If the basic price of the car be Rs. 340000, find the rate of VAT on cars.

Selling Price = Rs.382500


Original Price = Rs.340000


VAT Amount = 382500- 340000


= Rs.42500


VAT % = (VAT Amount/Original Price) × 100


= (42500/340000) × 100


= 12.5%


So, Rate of VAT on Car is 12.5%


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