Question

A retailer sells a video recorder for 880 pounds. the price includes VAT at 21% and 34% profit. Calculate the cost price of recorder.

Answer 1

Say cost price = x

Answer 2

Selling price = 1.34x

Answer 3

adding VAT gives you 1.21*(1.34x)

Answer 4

set this equal to 880 and solve x :

\[\large 1.21*(1.34x) = 880\]