Albert bought five refrigerators that cost $293 each before Goods and Service Tax (GST).
- Given that GST was charged at 6%, how much GST did Albert have to pay for one refrigerator?
- What was the total cost of the refrigerators, inclusive of GST?
(a)
GST that Albert had to pay for one refrigerator
= 6% x 293
=
6100 x 293
= $17.58
(b)
Cost of one refrigerator inclusive of GST
= 293 + 17.58
= $310.58
Cost of five refrigerators inclusive of GST
= 5 x 310.58
= $1552.9
Answer(s): (a) $17.58; (b) $1552.9