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A color TV is available for rupees 13440 inclusive of VAT if the original cost of TV is rupees 12000 find the rate of VAT.?
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A color TV is available for rupees 13440 inclusive of VAT if the origi...
Understanding VAT Calculation
Value Added Tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain. In this case, we need to find the rate of VAT on a color TV.
Given Information
- Original cost of the TV: Rupees 12000
- Total cost after VAT: Rupees 13440
Calculating the VAT Amount
To find the VAT amount, we subtract the original cost from the total cost.
- VAT Amount = Total Cost - Original Cost
- VAT Amount = 13440 - 12000
- VAT Amount = 1440
Finding the Rate of VAT
To determine the VAT rate, we use the formula:
- VAT Rate (%) = (VAT Amount / Original Cost) × 100
- VAT Rate (%) = (1440 / 12000) × 100
- VAT Rate (%) = 12%
Conclusion
The rate of VAT applied on the color TV is 12%. This means that for every 100 rupees spent on the original price, an additional 12 rupees is added as VAT, resulting in the final price of 13440 rupees.
Understanding VAT helps in making informed purchasing decisions and comprehending the additional costs involved in buying products.
Value Added Tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain. In this case, we need to find the rate of VAT on a color TV.
Given Information
- Original cost of the TV: Rupees 12000
- Total cost after VAT: Rupees 13440
Calculating the VAT Amount
To find the VAT amount, we subtract the original cost from the total cost.
- VAT Amount = Total Cost - Original Cost
- VAT Amount = 13440 - 12000
- VAT Amount = 1440
Finding the Rate of VAT
To determine the VAT rate, we use the formula:
- VAT Rate (%) = (VAT Amount / Original Cost) × 100
- VAT Rate (%) = (1440 / 12000) × 100
- VAT Rate (%) = 12%
Conclusion
The rate of VAT applied on the color TV is 12%. This means that for every 100 rupees spent on the original price, an additional 12 rupees is added as VAT, resulting in the final price of 13440 rupees.
Understanding VAT helps in making informed purchasing decisions and comprehending the additional costs involved in buying products.
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A color TV is available for rupees 13440 inclusive of VAT if the original cost of TV is rupees 12000 find the rate of VAT.?
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A color TV is available for rupees 13440 inclusive of VAT if the original cost of TV is rupees 12000 find the rate of VAT.? for Class 8 2025 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about A color TV is available for rupees 13440 inclusive of VAT if the original cost of TV is rupees 12000 find the rate of VAT.? covers all topics & solutions for Class 8 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A color TV is available for rupees 13440 inclusive of VAT if the original cost of TV is rupees 12000 find the rate of VAT.?.
A color TV is available for rupees 13440 inclusive of VAT if the original cost of TV is rupees 12000 find the rate of VAT.? for Class 8 2025 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about A color TV is available for rupees 13440 inclusive of VAT if the original cost of TV is rupees 12000 find the rate of VAT.? covers all topics & solutions for Class 8 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A color TV is available for rupees 13440 inclusive of VAT if the original cost of TV is rupees 12000 find the rate of VAT.?.
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