Peter bought two toaster ovens that cost $308 each before Goods and Service Tax (GST).
- Given that GST was charged at 6%, how much GST did Peter have to pay for one toaster oven?
- What was the total cost of the toaster ovens, inclusive of GST?
(a)
GST that Peter had to pay for one toaster oven
= 6% x 308
=
6100 x 308
= $18.48
(b)
Cost of one toaster oven inclusive of GST
= 308 + 18.48
= $326.48
Cost of two toaster ovens inclusive of GST
= 2 x 326.48
= $652.96
Answer(s): (a) $18.48; (b) $652.96