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Question

Manoj buys a leather coat costing Rs. 900 at Rs. 990 after paying the VAT. Calculate the VAT charged on the cost.


Solution

Cost price of coat = Rs. 900
And sale price including VAT = Rs. 990
Amount of VAT
=Rs. 990 - Rs. 900 = Rs. 90
Rate of VAT =90×100900=10%

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