VAT
The rate of VAT (value-added tax) in this country is 20%. In the shop CoCost, the price of a TV excluding VAT is £550. Work out the cost of the TV after the VAT is added on
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Method 1:
ReplyDeleteTo do this we can just do 1.2 * 550 as 20% is just 0.2 so an increase of 20% is 1.2.
Method 2:
First, we can find 20% of 550 and then add on 550 to make it an increase of 20%