If a store sells a packet of gum for R5,50, what will the total cost for the gum be if you add the VAT
The standard VAT rate in South Africa is 15%.
To calculate the total cost of the gum including VAT, you first need to calculate the VAT amount:
VAT = R5,50 * 15%
VAT = R0,82
Then add the VAT amount to the original price of the gum:
Total cost = R5,50 + R0,82
Total cost = R6,32
Therefore, the total cost for the gum including VAT will be R6,32.