a college graduate expects to earn a salary of 50000 during the first year after graduation and recieive a 3% raise every year f
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Answer:
Amount of VAT paid by Jeremy is € 9.31 .
Step-by-step explanation:
As given
In Germany, VAT is at 19% .
Jeremy buys a calculator in Germany for €58.31
This price includes VAT.
Let us assume that the cost of calculator excluding tax is x .
19% is written in the decimal form .
= 0.19
VAT Price = 0.19 × Cost price of calculator excluding VAT
= 0.19 × x
= 0.19x
Than
Cost of calaculator + VAT price = Cost of calculator including VAT
x + 0.19 × x = 58.31
x + 0.19x = 58.31
1.19x = 58.31
x = €49 (Approx)
Thus cost price of calculator excluding VAT is €49 .
VAT Price = 0.19 × Cost price of calculator excluding VAT
= 0.19 × 49
= € 9.31
Therefore the amount of VAT paid by Jeremy is € 9.31 .