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Finding Sales Tax / VAT

Ajit buys a m...

Question

Ajit buys a motocycle for Rs. 17600 inclusing value added tax. If the rate of VAT is $10 %$ , what is the sale price of the motorcycle?

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Solution

Cost price of motocycle (including VAT) = Rs. 17600
Rate of VAT $= 10 %$
$∴$ Sale price of motorcycle
$= R s . \frac{17600 \times 100}{100 + V A T %} = R s . \frac{17600 \times 100}{100 + 10}$
$= \frac{17600 \times 100}{110} = R s .16, 000$

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