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The price of a fridge, inclusive of 10% GST, is $14224.50. What is the GST component of this price, rounded to two decimal places?

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Answer to a math question The price of a fridge, inclusive of 10% GST, is $14224.50. What is the GST component of this price, rounded to two decimal places?

Expert avatar
Sigrid
4.5
116 Answers
Let the price of the fridge before GST be x.

Given that the price of the fridge inclusive of 10% GST is $14224.50, we can set up the following equation:

x + 0.10x = 14224.50

Simplifying the equation, we get:

1.10x = 14224.50

x = \frac{14224.50}{1.10}

x = 12931.36

Therefore, the price of the fridge before GST is $12931.36.

Now, to find the GST component, we can subtract the price before GST from the total price:

GST = 14224.50 - 12931.36

GST = 1293.14

Rounded to two decimal places, the GST component of the price is $1293.14.

\boxed{GST = \$1293.14}

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