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If the VAT on an article is increased from 15% to 18%. What more amount will have to pe paid for the article whose value is Rs 70,000(excluding VAT)

If the VAT on an article is increased from 15% to 18%. What more amount will have to pe paid for the article whose value is Rs 70,000(excluding VAT) Correct Answer 2100

Given

Vat rate old = 15%

Vat rate new = 18%

Value of an article = Rs. 70,000

Calculation

18% of 70,000 - 15% of 70,000

⇒ 12,600 - 10,500

⇒ 2100

∴ Rs. 2100 need to pay more

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