A wholesale product has a base price of before tax. With standard Slovenian VAT at , what is the final gross price?
Answer and explanation
Correct answer: A.
- Step 1: Calculate the tax amount: . Add this to the base net price: . **Answer: . Why not the others:** adds 22 directly instead of 22 percent, calculates 20 percent tax, and calculates 25 percent tax.
Practise more Commercial Arithmetic, Applied Algebra, Geometry and Statistics.
Free questions with an explanation for every one, and full timed Poklicna matura (Vocational Matura Slovenia) mock tests.
More Commercial Arithmetic, Applied Algebra, Geometry and Statistics questions
- A retailer buys an electric drill for and applies a markup of on the cost price. What is the selling price before tax…
- During an autumn sale, a laptop originally priced at is discounted by . What is the discounted sales price?
- A gross invoice including VAT totals . What is the net price of the goods before tax?
- A machine purchased for depreciates by of its value each year under the declining-balance method. What is its book…
- A deposit of is placed in a bank account offering simple annual interest of . How much interest is earned after …
- A business takes out a short-term bank credit of for days at a simple annual interest rate of , using an ordina…