A trader buys some goods for Rs 12,000 and sells them for Rs.15,000. If the rate of tax under VAT is 12%, find the VAT paid by the trader ?

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Solution

Cost price of goods = Rs. 12,000
VAT charged, Under VAT 12 %
= $\frac{12, 000 \times 12}{100} = R s . 1440$
Selling price of goods = Rs. 15,000
VAT charged, Under VAT 12%
= $\frac{15, 000 \times 12}{100} = R s . 1800$
VAT paid by trader = Rs. 1800- Rs. 1440 = Rs. 360

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A trader buys some goods for Rs 12,000 and sells them for Rs.15,000. If the rate of tax under VAT is 12%, find the VAT paid by the trader ?

Cost price of goods = Rs. 12,000 VAT charged, Under VAT 12 % = 12,000×12100=Rs.1440 Selling price of goods = Rs. 15,000 VAT charged, Under VAT 12% = 15,000×12100=Rs.1800 VAT paid by trader = Rs. 1800- Rs. 1440 = Rs. 360

Cost price of goods = Rs. 12,000
VAT charged, Under VAT 12 %
= $\frac{12, 000 \times 12}{100} = R s . 1440$
Selling price of goods = Rs. 15,000
VAT charged, Under VAT 12%
= $\frac{15, 000 \times 12}{100} = R s . 1800$
VAT paid by trader = Rs. 1800- Rs. 1440 = Rs. 360