Ivan bought three speakers that cost $151 each before Goods and Service Tax (GST).
- Given that GST was charged at 9%, how much GST did Ivan have to pay for one speaker?
- What was the total cost of the speakers, inclusive of GST?
(a)
GST that Ivan had to pay for one speaker
= 9% x 151
=
9100 x 151
= $13.59
(b)
Cost of one speaker inclusive of GST
= 151 + 13.59
= $164.59
Cost of three speakers inclusive of GST
= 3 x 164.59
= $493.77
Answer(s): (a) $13.59; (b) $493.77