A bag has a list price of GBP 40 before VAT. A 30% 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 33.60
- Step 1: Discounted price = 40 x 70% = 28. Step 2. Add VAT: 28 x 1.2 = 33.6 pounds. Answer: GBP 33.60. Why not the others: GBP 36.00 treats the discount and VAT as a single net change of -10% on the list price; GBP 18.00 takes 30 pounds off instead of 30%; GBP 28.00 leaves out the VAT.
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