An amount of R8 550 is VAT inclusive at 15%. What is the VAT portion from this amount? Select one:a.R1 282,50b.R1 050,00c.R7 500,00d.R1 197,00e.R1 115,22
Question
Solution 1
To calculate the VAT portion from the total amount, you need to use the formula:
VAT = Total Amount / (1 + VAT rate)
Here, the total amount is R8 550 and the VAT rate is 15% or 0.15.
So,
VAT = R8 550 / (1 + 0.15) VAT = R8 550 / 1.15 VAT = R7 434.78
This is the amount before VAT was added. To f Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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