Riordan bought four television sets that cost $291 each before Goods and Service Tax (GST).
- Given that GST was charged at 7%, how much GST did Riordan have to pay for one television set?
- What was the total cost of the television sets, inclusive of GST?
(a)
GST that Riordan had to pay for one television set
= 7% x 291
=
7100 x 291
= $20.37
(b)
Cost of one television set inclusive of GST
= 291 + 20.37
= $311.37
Cost of four television sets inclusive of GST
= 4 x 311.37
= $1245.48
Answer(s): (a) $20.37; (b) $1245.48