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in Mathematics by (30.0k points)
A shopkeeper purchases an article for ₹ 12,400 and sells it to a customer for ₹ 17,000. If the tax under VAT is 8%, find the VAT paid by the shopkeeper.

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C.P. of article = ₹ 12,400

Rate of VAT =8%

Total VAT = ₹ 12,400 x (8/100)= Rs. 992

S.P. of the article = ₹ 17000

VAT charge 8% = Rs. 17000 x  (8/100) = Rs. 1360

Amount of VAT paid by the shopkeeper = Rs. 1360 – Rs. 992 = Rs. 368

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