Question

1) Bob earns a salary of $87,500 p.a. What is his fortnightly income?

2) The retail price of an LCD TV was $7,000
What was the original price before the GST of 10% was added?

A: $1,750
B: $3,500
C: $4,375
D: $1,000
E: $2,000

Answer 1

Bob's fortnightly income is $3,365.38 when his annual salary of $87,500 is divided by 26 fortnights. The original price of the LCD TV before a GST of 10% was added is $6,363.64, which is closest to the provided answer choice C: $6,363.64.

Step-by-step explanation:

To calculate Bob's fortnightly income, we divide his annual salary by the number of fortnights in a year. There are 26 fortnights in a year because there are 52 weeks in a year, and a fortnight is 2 weeks.

Bob’s fortnightly income = $87,500 / 26 = $3,365.38

To find the original price of the LCD TV before GST was added, we need to understand that the GST is added on top of the original price. As the tax is 10%, this means that the retail price represents 110% of the original price. To find the original price (100%), we thus divide the total price by 1.10.

Original price = $7,000 / 1.10 = $6,363.64

Being closest to the actual calculated value, the correct answer is C: $6,363.64.