Question
If the selling price of stock, VAT exclusive is R1 100, what will be the selling price VAT inclusive?
A. 1 100 × 15/100
В. 1 100 x 115/100
C. 1 100 x 100/115
D. 1 100 x 100/15
A. 1 100 × 15/100
В. 1 100 x 115/100
C. 1 100 x 100/115
D. 1 100 x 100/15
Answers
GPT-4o mini
To calculate the selling price inclusive of VAT when the VAT rate is 15%, you can use the following formula:
\[ \text{Selling Price VAT Inclusive} = \text{Selling Price VAT Exclusive} \times \left(1 + \frac{\text{VAT Rate}}{100}\right) \]
In this case, the VAT rate is 15%, so:
\[ \text{Selling Price VAT Inclusive} = 1100 \times \left(1 + \frac{15}{100}\right) \]
\[ = 1100 \times 1.15 \]
\[ = 1100 \times \frac{115}{100} \]
Therefore, the correct answer is:
**B. 1 100 x 115/100**
\[ \text{Selling Price VAT Inclusive} = \text{Selling Price VAT Exclusive} \times \left(1 + \frac{\text{VAT Rate}}{100}\right) \]
In this case, the VAT rate is 15%, so:
\[ \text{Selling Price VAT Inclusive} = 1100 \times \left(1 + \frac{15}{100}\right) \]
\[ = 1100 \times 1.15 \]
\[ = 1100 \times \frac{115}{100} \]
Therefore, the correct answer is:
**B. 1 100 x 115/100**