Percentages involving Finances: GST

Percentages involving Finances: GST

TGM Original Questions

On \(15\) December \(2022\), Jia Yi bought a personal computer at a shopping mall at a price of \(\$1,605\), inclusive of GST (Goods and Services Tax) of \(7\%\).

  1. Find the price of the personal computer before GST.
  2. Find the amount of GST that Jia Yi paid for the personal computer.

The shopping mall will offer a discount of \(12\%\) on the personal computer during Christmas & New Year's Holiday from \(24\) December \(2022\) to \(3\) January \(2023\). And from \(1\) January \(2023\), the GST in Singapore will be increased by one percentage point from \(7\%\).

  1. Find the new GST rate from \(1\) January \(2023\).
  2. Find the price of the personal computer (including GST), respectively, if Jia Yi buys it on
    1. \(26\) December \(2022\),
    2. \(2\) January \(2023\),
    3. \(4\) January \(2023\),
    assuming the price of the personal computer before GST does not change.

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Answer:(i) \(1500\) dollars (ii) \(105\) dollars (iii) \(8\%\) (iv)(a) \(1412.40\) dollars (iv)(b) \(1425.60\) dollars (iv)(c) \(1620\) dollars

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