A color TV is available for Rs 26880 inclusive of VAT. If the original cost of the TV is Rs 24000, find the rate of VAT.

Asked by Topperlearning User | 4th Jun, 2014, 01:23: PM

Expert Answer:

Let the rate of the VAT be x%.

Then,

Rs 24000 + x% of Rs 24000 = Rs 26880

Rate of VAT = 12%

Answered by  | 4th Jun, 2014, 03:23: PM