Rabit221
Dec 14, 2011, 10:55 AM
If the selling price of a laptop, including VAT, is 576 euro, find the price of the laptop before VAT is added on.
ebaines
Dec 14, 2011, 03:07 PM
It depends on what the VAT rate is. Let's call the VAT rate V. Then for an item priced at P the VAT is P times V, and the total amount you have to pay is:
Total = P x (1 + V).
For this problem you know the total is 576, so if you know the rate V you can solve for P.