Archie bought four speakers that cost $313 each before Goods and Service Tax (GST).
- Given that GST was charged at 9%, how much GST did Archie have to pay for one speaker?
- What was the total cost of the speakers, inclusive of GST?
(a)
GST that Archie had to pay for one speaker
= 9% x 313
=
9100 x 313
= $28.17
(b)
Cost of one speaker inclusive of GST
= 313 + 28.17
= $341.17
Cost of four speakers inclusive of GST
= 4 x 341.17
= $1364.68
Answer(s): (a) $28.17; (b) $1364.68