fazilla catering is a vat registered business, john ordered buffer for his birthday with the following item:
price per person:$20 pax
number of people:40
trade discount:15%
term of payment :60 days net 3/07 2% penalty for late payment.
what is the amount of VAT to be charged on this invoice?
A $104.52
B $119
C$115.43
D$140.00
i used $20*40=$800 $800 less trade discount =$120
800-120=680
17.5*680=$119
correct answer is C
which part i caluclation wrongly?
price per person:$20 pax
number of people:40
trade discount:15%
term of payment :60 days net 3/07 2% penalty for late payment.
what is the amount of VAT to be charged on this invoice?
A $104.52
B $119
C$115.43
D$140.00
i used $20*40=$800 $800 less trade discount =$120
800-120=680
17.5*680=$119
correct answer is C
which part i caluclation wrongly?