A bag has a list price of GBP 60 before VAT. A 20% discount is taken off the list price, and then VAT at 20% is added to the discounted price. What is the final price?
Answer and explanation
Correct answer: D. GBP 57.60
- Step 1: Discounted price = 60 x 80% = 48. Step 2. Add VAT: 48 x 1.2 = 57.6 pounds. Answer: GBP 57.60. Why not the others: GBP 60.00 treats the discount and VAT as a single net change of 0% on the list price; GBP 52.00 takes 20 pounds off instead of 20%; GBP 48.00 leaves out the VAT.
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