Podcast
Questions and Answers
What is the initial cost of the meal?
What is the initial cost of the meal?
₱4550
What is the rate of sales tax applied to the meal?
What is the rate of sales tax applied to the meal?
12%
How much is the sales tax calculated on the meal?
How much is the sales tax calculated on the meal?
₱546
What is the total amount paid at the cashier?
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?
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?
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?
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?
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?
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.
