Question

A shepkeeper bought a bottle of cooking oil at $ 4.54 He then sold it for $7.49. inclusive of GST. The GST of 7% of the selling pnce is to be paid to the government.

(A) Find the GST he had to pay (B) Find the profit in selling one bottle of cooking oil.​

Answer 1

GST = $0.32

PROFIT = $2.63

Explanation:

GST = 7% of $4.54 = 0.32

Profit = 7.49 - ( 4.54 + 0.32)

= 7.49 - 4.86

= 2.63