Posted by Anonymous on Thursday, January 24, 2013 at 7:30am.
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

maths  Steve, Thursday, January 24, 2013 at 10:12am
Is the VAT based on the cost, or the increase in price?

maths  Anonymous, Thursday, January 24, 2013 at 10:16am
vat means value added tax

maths  Steve, Thursday, January 24, 2013 at 10:20am
yes, but I don't know the details of how it is calculated.

maths  Anonymous, Thursday, January 24, 2013 at 10:23am
question has insufficient data

maths  Steve, Thursday, January 24, 2013 at 10:30am
Is the vat calculated on the cost (23,000), like sales tax, or on the increase (6,000)?

maths  Anonymous, Thursday, January 24, 2013 at 11:48am
yes

maths  Anonymous, Thursday, January 14, 2016 at 4:11am
,klhk
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