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retailer selling goods to a customer for $88 and remitting $8 GST to the government.

Question

Retailer selling goods to a customer for 88andremitting88 and remitting 8 GST to the government.

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Solution

In this scenario, we have a retailer who is selling goods to a customer for 88,andfromthatamount,theretailerisalsoremitting88, and from that amount, the retailer is also remitting 8 as GST (Goods and Services Tax) to the government. Here's how this can be analyzed:

Understanding the Transaction

  1. The total amount paid by the customer is $88.
  2. Out of this total, $8 is the GST that the retailer is required to remit to the government.

Breakdown of the Cost

  • To find out the price of the goods before tax, we can subtract the GST from the total amount paid by the customer:

Price before GST=Total amountGST=888=80 \text{Price before GST} = \text{Total amount} - \text{GST} = 88 - 8 = 80

Summarizing the Findings

  • Total amount paid by the customer: $88
  • GST remitted to the government: $8
  • Price of the goods before GST: $80

Final Answer

The price of the goods before tax is $80.

This problem has been solved

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