Goods and Services Tax (GST) (VCE SSCE General Mathematics): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
GST rate in Australia (%)
GST rate in Australia (%)
10%
Formula: GST amount from original price
Formula: GST amount from original price
rac{ ext{Cost without GST}}{10}
Formula: GST amount from GST-inclusive price
Formula: GST amount from GST-inclusive price
rac{ ext{Cost with GST}}{11}
Formula: Add GST to original price
Formula: Add GST to original price
Formula: Remove GST from price
Formula: Remove GST from price
rac{ ext{Cost with GST}}{1.1}
What does multiplying by 1.1 represent?
What does multiplying by 1.1 represent?
110% of original (100% + 10% GST)
GST-inclusive price as % of original
GST-inclusive price as % of original
110%
Shortcut to find 10% of an amount
Shortcut to find 10% of an amount
Divide the amount by 10
Quick method to add GST
Quick method to add GST
Multiply by 1.1
Quick method to remove GST
Quick method to remove GST
Divide by 1.1