SOLUTION: Before the rise in VAT from 17.5% to 20% the price of a table was $499. To the nearest $1, what is the price of the table after the increase in VAT
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Question 1143670: Before the rise in VAT from 17.5% to 20% the price of a table was $499. To the nearest $1, what is the price of the table after the increase in VAT Answer by ikleyn(52776) (Show Source):
The price of the table itself (at no VAT) is = = 424.68 dollars.
Then the price of the table with 20% VAT is 424.68*(1+0.20) = 424.68*1.20 = 509.62 dollars.
ANSWER. 510 dollars, to the nearest $1.
