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Course Content
Digital Lessons (2nd & 3rd Year)
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Knowledge Check Quiz

EXAMS.IE

Financial Maths

HINT

Books are one product that are VAT exempt.

1 / 5

It is necessary to pay VAT when purchasing any product.

HINT

Electrical goods are all charged the same VAT rate.

2 / 5

The VAT rate is determined by how expensive the product is.

HINT

Electrical goods are all charged the same VAT rate.

3 / 5

The same VAT amount is charged on all video games consoles.

HINT

To convert a percentage into a decimal, we divide by \(100\).

4 / 5

"A product costs \(120\mbox{ euro}\) plus VAT of \(23\%\)."

Which of the following expressions correctly calculates the VAT?

HINT

To convert a percentage into a decimal, we divide by \(100\).

5 / 5

"VAT of \(23\%\) for a particular product amounts to 35\mbox{ euro}\)."

Which of the following expressions correctly calculates the selling price of the product (excluding VAT)?

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