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Published byHelen Hensley Modified over 8 years ago
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Starter Questions Starter Questions
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Learning Intention Explain how to calculate price +VAT. 2 VAT - 17.5%
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VAT Value added Tax Why do we pay it ? VAT means : To pay for NHS, bin collection, School education etc…… 17.5% What is the current percentage rate of VAT
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VAT – 17.5% Example 1 How much will I pay for the computer including VAT below ? £1000 + VAT VAT – 17.5% 10% 1000 ÷ 10 = £100 5% half of 10%= £ 50 2.5% half of 5%= £ 25 17.5% £175 Total cost is £1000 + £175 = £1175
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VAT – 17.5% Example 2 Price of the Plasma TV is shown below is excluding VAT. What is the total price I have to pay. £1300 (excluding VAT) 10% 1300 ÷ 10 = £130 5% half of 10%= £ 65 2.5% half of 5%= £ 32.50 17.5%£227.50 Total cost is £1300 + £227.50 = £1527.50
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Now try Ex 4.1 Ch4 Pg 50 All Questions Profit and Loss
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