asked 131k views
2 votes
VAT is at 19%. Jeremy buys a calculator for ?58.31. What is the amount of VAT paid

1 Answer

5 votes

Answer:

€9.31

Explanation:

The relationship of tax to price is ...

... tax : price = 0.19 : 1

Then the relationship of tax to total cost is ...

... tax : (tax + price) = 0.19 : (0.19 +1) = 0.19 : 1.19 = 19 : 119

So, the tax is 19/119 times the total cost. In this problem, ...

... VAT = 19/119 × €58.31

... VAT = €9.31

answered
User Peter Wessberg
by
8.2k points
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