Asked by david t
A contractor supplied some items to a school.The contractor bill is shown below.If each amount includes 5%VAT,calculate how much the government receives as VAT. a. stationery -84000 naira,b.sport equipment -262500,c. computers- 672000,d. school lockers- 157500, e.electrical fittings- 52500
Answers
Answered by
oobleck
just do the math. If the price includes 5% VAT, then the selling price is 1.05 times the cost. The difference is the VAT
a) 84000(1 - 1/1.05) = 4000
and so on
a) 84000(1 - 1/1.05) = 4000
and so on
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