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Financial Maths, STD2 EQ-Bank 01 MC

Jacinta buys several items at the supermarket. The docket for her purchases is shown below.

What is the amount of GST included in the total? 

  1. $1.15
  2. $1.27
  3. $1.55
  4. $1.71
Show Answers Only

\(A\)

Show Worked Solution

\(\text{Total price of taxable items}\ +\ 10\%\ \text{ GST}\ =1.29+7.23+4.13=$12.65\)

\(\therefore\ 110\%\ \text{of original price}\) \(=$12.65\)
\(\therefore\ \text{GST}\) \(=$12.65\times\dfrac{100}{110}\)
  \(=$1.15\)

\(\Rightarrow A\)

Filed Under: Purchasing Goods (Std2-2027) Tagged With: Band 5, smc-6278-20-GST/VAT, syllabus-2027

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