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Question
A colour TV is available for Rs 13440 inclusive of VAT. If the original cost of TV is Rs 12000, find the rate of VAT.
Solution
Cost price of the TV including VAT = Rs. 13440
Let the rate of VAT be x%
Cost of the TV = x% of 12000 + 12000
13440 - 12000 = `12000xxx/100`
13440 - 12000 = 120x
120x = 1440
\[x = \frac{1440}{120}\]
x = 12
Thus, the rate of VAT on the colour TV is 12%
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