Wednesday

April 23, 2014

April 23, 2014

Posted by **Jason** on Tuesday, February 28, 2012 at 3:26am.

a) How much profit does the hotel room service make from selling 1 bottle of Open View reisling?

b) What percentage profit on their cost price does the hotel room service make?

2. All goods for sale in England are subject to a 17.5% value added tax(VAT) . Julian bought two pairs of pants for £188, which included VAT. How much of the pants was the VAT?

Why is 14.89% of the price of goood in the UK give the value of the 17.5% VAT in the price?

- Math -
**Steve**, Tuesday, February 28, 2012 at 11:17amsince the hotel buys the wine at $12 and sells it at $30, it makes $18 on a bottle of wine.

18/12 = 1.5, so it makes 150% profit, based on cost.

1.175p = 188

p = 160

tax = 28

1.175p = s

p = .851s

s - .851s = .149s = 14.9%

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