Civil Service Exam Reviewer · Percentage · hard
A receipt shows a VAT-inclusive total of ₱2,464. How much of this is the 12% VAT?
- ₱295.68
- ₱264
- ₱2,200
- ₱275.97
Answer
B. ₱264
Solution
VAT-exclusive price = ₱2,464 ÷ 1.12 = ₱2,200. VAT = ₱2,464 − ₱2,200 = ₱264 (or ₱2,464 × 12/112).
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