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v1 Financial Maths, STD2 F1 2023 HSC 6 MC

An item was purchased for a price of $660, including 10% GST.

What is the amount of GST included in the price?

  1. $6.00
  2. $6.60
  3. $60.00
  4. $66.00
Show Answers Only

`=> C`

Show Worked Solution

`text{Let}\ C =\ text{Original cost}`

`C + 0.1 × C` `= 660`
`1.1C` `= 660`
`C` `= 660 / 1.1`
  `= $600`

 
`:.\ \text{GST} = 660-600 = $60`

`=> C`

♦ Mean mark 4

Filed Under: Tax and Percentage Increase/Decrease (Std 2-X) Tagged With: Band 5, smc-831-20-GST

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