Questions and Answers
What is the initial cost of the meal?
₱4550
What is the rate of sales tax applied to the meal?
12%
How much is the sales tax calculated on the meal?
₱546
What is the total amount paid at the cashier?
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What is the calculated sales tax for the meal before it is added to the total amount?
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If the group had paid an additional ₱50 in service charge, what would the total amount paid in the cashier be?
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Which equation correctly represents the calculation of the total amount paid including sales tax?
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If the VAT rate increased to 15%, what would be the new total amount paid at the cashier?
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If the group had decided to split the total amount paid among 10 teachers, how much would each teacher pay?
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Study Notes
Meal Calculation Summary
- A meal for a group of teachers costs ₱4550.
- A 12% Value Added Tax (VAT) applies to the meal.
Sales Tax Calculation
- Sales Tax calculated using the formula:
- Sales Tax = Total Product Amount × Sales Tax Rate.
- Calculation:
- Sales Tax = ₱4550 × 0.12 = ₱546.
Final Amount Calculation
- To find the total amount paid at the cashier, sum the meal cost and sales tax:
- Total Amount Paid = Total Product Amount + Sales Tax.
- Calculation:
- Total Amount Paid = ₱4550 + ₱546 = ₱5096.
Conclusion
- The total amount paid by the group of teachers is ₱5,096.
Meal Calculation Summary
- A meal for a group of teachers costs ₱4550.
- A 12% Value Added Tax (VAT) applies to the meal.
Sales Tax Calculation
- Sales Tax calculated using the formula:
- Sales Tax = Total Product Amount × Sales Tax Rate.
- Calculation:
- Sales Tax = ₱4550 × 0.12 = ₱546.
Final Amount Calculation
- To find the total amount paid at the cashier, sum the meal cost and sales tax:
- Total Amount Paid = Total Product Amount + Sales Tax.
- Calculation:
- Total Amount Paid = ₱4550 + ₱546 = ₱5096.
Conclusion
- The total amount paid by the group of teachers is ₱5,096.
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Description
Test your knowledge on calculating sales taxes with this quiz. Using a restaurant meal cost as an example, determine the total amount paid including VAT. This quiz will help you practice your math and financial reasoning skills.
