Cole bought two speakers that cost $182 each before Goods and Service Tax (GST).
- Given that GST was charged at 4%, how much GST did Cole have to pay for one speaker?
- What was the total cost of the speakers, inclusive of GST?
(a)
GST that Cole had to pay for one speaker
= 4% x 182
=
4100 x 182
= $7.28
(b)
Cost of one speaker inclusive of GST
= 182 + 7.28
= $189.28
Cost of two speakers inclusive of GST
= 2 x 189.28
= $378.56
Answer(s): (a) $7.28; (b) $378.56