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HELP: Easy Maths Question

  • 13-01-2018 11:12am
    #1
    kanadams123
    Registered Users, Registered Users 2 Posts: 403 ✭✭


    Hi, we are currently gone onto the LC financial maths section and doing Revision of the JC HL course and i can't get my head around this question.

    A bill for €96.76 includes VAT at 18%. Calculate the amount of the bill before vat is added.

    The Answer is €82 as per back of the book..please explain how this answer is reached. Cheers


Comments

  • #2
    Deub
    Registered Users, Registered Users 2 Posts: 1,442 ✭✭✭Deub


    If you have the price without VAT, you would need to do X x 1.18. Since you have the price with VAT, just divide it by 1.18.

    Edit: Maybe the 1.18 is not clear. To get the VAT price it is X + 0.18X which is equivalent to X x 1.18


  • #3
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    The bill before vat is 100%
    The vat inclusive bill is 118%

    Divide the vat inclusive total by 1.18
    The answer in book is correct.


  • #4
    kanadams123
    Registered Users, Registered Users 2 Posts: 403 ✭✭kanadams123


    thanks guys!
    That makes more sense now!
    Cheers


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