Question

The price of an item was R227.87 after 14% VAT.In the meantime the VAT increased to 15%.What was the price of that item after 15% VAT? Give the answer to the nearest 5 cent​

Answer 1

R 257.85 is the price after 15% VAT.

Step-by-step explanation:

price of the item after putting vat: 100% + 14% = 114%

114% → 227.87

1% →
`(227.87)/(114)`

100% is always the original price.

100% →
`(227.87)/(114)` * 100

100% → R 199.89

The original price was R 199.89

The VAT was again increased to 15%: 114% + 15% → 129%

129% → 129 *
`(227.87)/(114)`

129% → R 257.85

The price after 15% VAT put is R 257.85.