The price of a new television is $423. This price includes VAT in 17 1/2%.
a) Work out the cost of the television before VAT was added.
By the end of the year, the value of a television has fallen by 12% of its value at the start of that year. The value of a television was $423 at the start of the year.
b) Work out the value of the television at the end of the third year. Give your answer to the nearest penny.

Question

thegemmini thegemmini

23-07-2022
Mathematics

contestada

The price of a new television is $423. This price includes VAT in 17 1/2%.
a) Work out the cost of the television before VAT was added.
By the end of the year, the value of a television has fallen by 12% of its value at the start of that year. The value of a television was $423 at the start of the year.
b) Work out the value of the television at the end of the third year. Give your answer to the nearest penny.

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temdan2001 temdan2001 · Answer 1 · 2022-07-25T20:32:41+02:00

The cost of the television before VAT was added is $360 and the value of the television at the end of the third year is $288.3

What is the meaning of VAT ?

VAT is an acronym for Value Added Tax. This is a tax attach to goods and products.

Given that the price of a new television is $423. This price includes VAT in 17 1/2%.

a) The cost of the television before VAT was added is calculated below.

Let the initial cost = C

(17.5 + 100)/100 x C = 423

117.5/100 x C = 423

1.175C = 423

C = 423/1.175

C = $360

b. By the end of the year, the value of a television has fallen by 12% of its value at the start of that year. If the value of a television was $423 at the start of the year, the value of the television at the end of the third year will be calculated by using the formula

A = P(1 - R%)^3

Substitute all the parameters

A = 423(1 - 12/100)^3

A = 423 x [tex]0.88^{3}[/tex]

A = 288.3 dollars

Therefore, cost of the television before VAT was added is $360 and the value of the television at the end of the third year is $288.3

Learn more about VAT here: https://brainly.com/question/20392481

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