A shopkeeper was involved in tax evasion to save Sales Tax he never give receipts to his customers he sold an article for ₹ 550 includimg 10% VAT find the amount of VAT not paid by him to the government
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A shopkeeper was involved in tax evasion to save Sales Tax he never give receipts to his customers he sold an article for ₹ 550 includimg 10% VAT find the amount of VAT not paid by him to the government
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=55
Answer:
Rs.50
Step-by-step explanation:
sp of article including VAT= Rs.550
VAT = 10%
550 = [1+(10/100] * sp
550 = 110/100 * sp
sp = 550*100/110
sp = Rs. 500
VAT= 550-500
= Rs.50 ans...