A man buys an article for Rs. 12000 and pays 8% tax. He sells the same article for Rs. 14000 and charges 10% tax. The VAT paid by the man is

Rs. 480

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Rs. 420

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Rs. 440

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Rs. 460

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Solution

The correct option is C
Rs. 440

Tax paid by man to purchase article is
8% of Rs. 12000
$= \frac{8}{100} \times 12000 = R s . 960$
Tax charged by him while selling the article is 10% of Rs. 14000
$= \frac{10}{100} \times 14000 = R s . 1400$
VAT= Tax charged -Tax paid
= Rs. 1400 - Rs. 960
= Rs. 440

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A man buys an article for Rs. 12000 and pays 8% tax. He sells the same article for Rs. 14000 and charges 10% tax. The VAT paid by the man is

The correct option is C Rs. 440 Tax paid by man to purchase article is 8% of Rs. 12000 =8100×12000=Rs.960 Tax charged by him while selling the article is 10% of Rs. 14000 =10100×14000=Rs.1400 VAT= Tax charged -Tax paid = Rs. 1400 - Rs. 960 = Rs. 440

The correct option is C
Rs. 440

Tax paid by man to purchase article is
8% of Rs. 12000
$= \frac{8}{100} \times 12000 = R s . 960$
Tax charged by him while selling the article is 10% of Rs. 14000
$= \frac{10}{100} \times 14000 = R s . 1400$
VAT= Tax charged -Tax paid
= Rs. 1400 - Rs. 960
= Rs. 440