List price of a pair of shoes is Rs. 450. If amt. paid Rs.45 as VAT for it, find the rate of VAT.

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Solution

Since VAT is paid on the list price.
$∴$ Rate of VAT $= (\frac{45}{450} \times 100) = 10 %$

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List price of a pair of shoes is Rs. 450. If amt. paid Rs.45 as VAT for it, find the rate of VAT.

Since VAT is paid on the list price.∴ Rate of VAT =(45450×100)=10%

Since VAT is paid on the list price.
$∴$ Rate of VAT $= (\frac{45}{450} \times 100) = 10 %$