Emilie Maguren Mathematics Standard Year 11 Revision for Half Yearly Examination 2024 - worksheet #01 (show all working) A necklace in Thailand costs 4419 baht after a VAT of 7% has been added. What was its original price, to the nearest baht?

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Emilie Maguren Mathematics Standard Year 11 Revision for Half Yearly Examination 2024 - worksheet #01 (show all working)  A necklace in Thailand costs 4419 baht after a VAT of  7% has been added. What was its original price, to the nearest baht?

Bytelearn · Accepted Answer

Understand final price calculation: To find the original price before VAT, we need to understand that the final price is 100% of the original price plus the 7% VAT. This means the final price represents 107% of the original price. We can represent the original price as 100% and set up an equation to find this value.Denote original price as 'P': Let's denote the original price as 'P'. The final price after adding 7% VAT is 107% of 'P'. Therefore, we can write the equation as 107% of P = 4419 baht.Write equation for final price: To solve for 'P', we convert the percentage to a decimal and write the equation as 1.07 * P = 4419.Isolate 'P' in the equation: Now, we divide both sides of the equation by 1.07 to isolate 'P' on one side. This gives us P = 4419 / 1.07.Round to nearest baht: Performing the division, we get P = 4130.841121495327. Since we need to round to the nearest baht, we round this number to 4131.

Emilie Maguren Mathematics Standard Year $11$ $\newline$ Revision for Half Yearly Examination $2024$ - worksheet \# $01$ $\newline$ (show all working) $\newline$ $1$ . A necklace in Thailand costs $4419$ baht after a VAT of $7 \%$ has been added. What was its original price, to the nearest baht?

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