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Calculating VAT? help for sisters maths gcse :S

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
She's got her maths gcse tomorrow (calculator) and I couldn't help her out with calculating VAT, you know the whole 17.5% business? Does anyone here know maths really well and could give me an example that I could leave out for her before she goes in for her test tomorrow?

Bitesize is shit :banghead:

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Retailer sells item they bought for £20. How much should they charge including VAT?
    VAT = 17.5%

    17.5/100 x £20 = 0.175 x 20 = £3.50
    Item incl VAT = £20 + £3.50 = £23.50

    OR

    Item costs £20 retail. How much did the item cost before VAT?
    VAT = 17.5%

    Retail price = 100% of cost + 17.5% VAT = £20 = 117.5%
    .: 100/117.5 * 20 = cost before VAT = £17.02
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    The easiest way to work out 17.5% in your head for VAT is:

    10% + Half of that (5%) + Half of that (2.5%) = 17.5%

    But to work it out on a calculator:

    VAT = Price x 0.175

    Price + VAT = Price x 1.175

    Hope that helps.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I :heart: you both.
    Big sis saves the day. (well with a little help :flirt: )
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Isn't there a way of doing it which involves multiplying by 1.175?
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Sofie wrote:
    Isn't there a way of doing it which involves multiplying by 1.175?

    yeh wooooaaaaaah just posted it above
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