A house is being renovated for $50,000. Right now the HST is 12% and is charged on all renovations. After April the HST will be gone and be replaced with PST of 7% and the GST of 6%. Renovations will only have to charge GST. How much money will the homeowner save if they wait until April to get the renovations done?
I posted this question yesterday and I still didn't receive help. Please help me, this is due already
4 answers
You must have notes on this section. Please review the examples the teacher has gone with you.
my teacher has given us no notes or examples, that's why im asking for help
Don't be scared by all the words.
Right now, the HST is 12% of 50000, or 6000
Later, there will be
PST of 7% of 50000, or 3500
GST of 6% of 50000, or 3000
However, they only have to pay the GST, so they save 6000-3000 = $3000
For this kind of blizzard of words, just take each sentence and figure out what it means, then write it in symbols that you can use to calculate and answer.
Just a note: the wording of the problem is bad. It says that "after April" the taxes change. Presumably that means after April 30.
But they as what will happen if they wait "until April" which I take to mean after April 1st.
Right now, the HST is 12% of 50000, or 6000
Later, there will be
PST of 7% of 50000, or 3500
GST of 6% of 50000, or 3000
However, they only have to pay the GST, so they save 6000-3000 = $3000
For this kind of blizzard of words, just take each sentence and figure out what it means, then write it in symbols that you can use to calculate and answer.
Just a note: the wording of the problem is bad. It says that "after April" the taxes change. Presumably that means after April 30.
But they as what will happen if they wait "until April" which I take to mean after April 1st.
omg thank you so much, you saved my life! so the answer is $3000 right?, thank you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
1 answer