Subjects financial math

Vat Inclusive

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Vat Inclusive


1. Stating the problem: We need to find the VAT inclusive total when the VAT exclusive total is 939.13 and the VAT rate is 15%. 2. Understanding the VAT calculation: The VAT inclusive total includes the original amount plus 15% of it. Mathematically, the VAT inclusive total is given by $$\text{Inclusive} = \text{Exclusive} + 0.15 \times \text{Exclusive}$$ 3. Simplifying, we can write this as $$\text{Inclusive} = \text{Exclusive} \times (1 + 0.15) = \text{Exclusive} \times 1.15$$ 4. Substituting the given VAT exclusive total into the equation, we get $$\text{Inclusive} = 939.13 \times 1.15$$ 5. Performing the multiplication: $$939.13 \times 1.15 = 1080.9995$$ 6. Rounding off to two decimal places gives $$1081.00$$ 7. Final answer: The VAT inclusive total is 1081.00.