Question

If you are selling 12x item A at 12.50 excluding VAT ,15 item B at 15.00 excluding vat and 13x item C at 18.00 including VAT. What is the total VAT and grand total including VAT

Answer 1

To calculate the total VAT and grand total including VAT, we need to find the individual prices including VAT first.

For item A, the price including VAT is:
12.50 + (12.50 * 0.20) = 12.50 + 2.50 = 15.00

So, the total price including VAT for 12x item A is:
15.00 * 12 = 180.00

For item B, the price including VAT is:
15.00 + (15.00 * 0.20) = 15.00 + 3.00 = 18.00

So, the total price including VAT for 15x item B is:
18.00 * 15 = 270.00

For item C, the price including VAT is already given as 18.00

So, the total price including VAT for 13x item C is:
18.00 * 13 = 234.00

Now, let's calculate the total VAT:
Total VAT = (12.50 * 0.20 * 12) + (15.00 * 0.20 * 15)
Total VAT = (30.00) + (45.00)
Total VAT = 75.00

Finally, let's calculate the grand total including VAT:
Grand Total = 180.00 + 270.00 + 234.00 + 75.00
Grand Total = 759.00

Therefore, the total VAT is 75.00 and the grand total including VAT is 759.00.