maths
posted by Anonymous on .
A manufacture of furniture sells a sofa set to a retailer for Rs 23000.the retailer, inturn, sells the sofa set to a customer for Rs 29000.find the VAT rate as percent,if the retailer pays Rs520 as VAT

Is the VAT based on the cost, or the increase in price?

vat means value added tax

yes, but I don't know the details of how it is calculated.

question has insufficient data

Is the vat calculated on the cost (23,000), like sales tax, or on the increase (6,000)?

yes

,klhk