The vat percent is 10%.
Given that s.p.=Rs 450 and s.p with vat =Rs 495.
We want to find Amount of VAT that is how much value added tax is imposed in the selling price.
firstly, we will find Amount of VAT by taking Selling Price (S.P) and subtract it from Selling Price with VAT.
Amount of VAT = (S.P + VAT )- S.P
Amount of VAT = Rs 495 - Rs 450
Amount if VAT = Rs 45
Now, we will find the vat percent by dividing amount of VAT with selling price and multiply with 100, we get
VAT Percent = (Amount of VAT /Selling Price)×100
VAT Percent =(45/450)×100
VAT Percent=10%
Hence, the VAT percentage is 10% when the selling price is Rs. 450 with the VAT selling price Rs 495.
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