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# Have I got the answer right Watch

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1. Hi,

If you could please confirm if my answer is correct or not from the picture above.

I got my final answer to be €37,260.00

Any confirmation or corrections appreciated.
Jake
2. (Original post by RugbyJake16)

Hi,

If you could please confirm if my answer is correct or not from the picture above.

I got my final answer to be €37,260.00

Any confirmation or corrections appreciated.
Jake
I worked out a different answer, slightly lower.
My method was to work out the price of the car excluding 17.5% VAT
Then add on the VAT rate 24% onto the ex VAT price I just worked out.

What do you make the ex VAT price to be?
3. (Original post by st*r)
I worked out a different answer, slightly lower.
My method was to work out the price of the car excluding 17.5% VAT
Then add on the VAT rate 24% onto the ex VAT price I just worked out.

What do you make the ex VAT price to be?
I don't it differently, not sure whether my method was correct.

I done

24-17 1/2 = 6.5

Then added 6.5% of vat to the nearest €10 to the old price with the old vat.
4. (Original post by RugbyJake16)
I don't it differently, not sure whether my method was correct.

I done

24-17 1/2 = 6.5

Then added 6.5% of vat to the nearest €10 to the old price with the old vat.

Work out the price excluding VAT first, then add the new VAT on.
I have a VAT registered business so I know this is the correct method.
5. (Original post by st*r)

Work out the price excluding VAT first, then add the new VAT on.
I have a VAT registered business so I know this is the correct method.
Okay thank you, I shall work that out now.
6. (Original post by RugbyJake16)
I don't it differently, not sure whether my method was correct.

I done

24-17 1/2 = 6.5

Then added 6.5% of vat to the nearest €10 to the old price with the old vat.
Think of it this way: You have 1.175 times your original price before VAT. Using your method, you add 6.5% of 1.175 times your original price. This gets you to 1.065*1.175 times, or 1.251 times your original price, not 1.24.
7. (Original post by st*r)

Work out the price excluding VAT first, then add the new VAT on.
I have a VAT registered business so I know this is the correct method.
If i am correct this time, is it €33,348.72?
8. (Original post by RugbyJake16)
If i am correct this time, is it €33,348.72?

What is your ex VAT price and how do you work it out?

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