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VAT worksheet

Grade 7 · CCSS 7.RP.A.3

Solve each problem and show your work. Round answers to 2 decimal places where needed.

1.
Problem 1.
- I want to…: Extract VAT from a gross price
- Amount: $250
- VAT or GST rate: 20%
Find: Net price (before VAT)
Answer
2.
Problem 2.
- I want to…: Extract VAT from a gross price
- Amount: $220
- VAT or GST rate: 16%
Find: Net price (before VAT)
Answer
3.
Problem 3.
- I want to…: Add VAT to a net price
- Amount: $230
- VAT or GST rate: 22%
Find: Gross price (including VAT)
Answer
4.
Problem 4.
- I want to…: Add VAT to a net price
- Amount: $300
- VAT or GST rate: 24%
Find: Gross price (including VAT)
Answer
5.
Problem 5.
- I want to…: Add VAT to a net price
- Amount: $220
- VAT or GST rate: 18%
Find: Gross price (including VAT)
Answer
6.
Problem 6.
- I want to…: Add VAT to a net price
- Amount: $200
- VAT or GST rate: 24%
Find: Gross price (including VAT)
Answer
7.
Problem 7.
- I want to…: Add VAT to a net price
- Amount: $350
- VAT or GST rate: 29%
Find: Gross price (including VAT)
Answer
8.
Problem 8.
- I want to…: Add VAT to a net price
- Amount: $300
- VAT or GST rate: 22%
Find: Gross price (including VAT)
Answer
9.
Problem 9.
- I want to…: Extract VAT from a gross price
- Amount: $240
- VAT or GST rate: 16%
Find: Net price (before VAT)
Answer
10.
Problem 10.
- I want to…: Extract VAT from a gross price
- Amount: $250
- VAT or GST rate: 15%
Find: Net price (before VAT)
Answer

Answer key: VAT worksheet

1. Net price (before VAT): $208.33
1. The full price is the price before tax times (1 + rate). So divide by (1 + rate) to get back the price before tax
  $\frac{$250.00}{(1 + 0.2)}$ $= $208.33$
2. The VAT is what's left: the full price minus the price before tax
  $$250.00 - $208.33$ $= $41.67$
3. Check with a shortcut: the VAT is rate ÷ (100 + rate) of the full price
  $$250.00 \times \frac{20}{100 + 20}$ $= $41.67$
2. Net price (before VAT): $189.66
1. The full price is the price before tax times (1 + rate). So divide by (1 + rate) to get back the price before tax
  $\frac{$220.00}{(1 + 0.16)}$ $= $189.66$
2. The VAT is what's left: the full price minus the price before tax
  $$220.00 - $189.66$ $= $30.34$
3. Check with a shortcut: the VAT is rate ÷ (100 + rate) of the full price
  $$220.00 \times \frac{16}{100 + 16}$ $= $30.34$
3. Gross price (including VAT): $280.60
1. Find the VAT: the price before tax times the VAT rate
  $$230.00 \times 22%$ $= $50.60$
2. Add the VAT to the price before tax to get the full price
  $$230.00 + $50.60$ $= $280.60$
4. Gross price (including VAT): $372.00
1. Find the VAT: the price before tax times the VAT rate
  $$300.00 \times 24%$ $= $72.00$
2. Add the VAT to the price before tax to get the full price
  $$300.00 + $72.00$ $= $372.00$
5. Gross price (including VAT): $259.60
1. Find the VAT: the price before tax times the VAT rate
  $$220.00 \times 18%$ $= $39.60$
2. Add the VAT to the price before tax to get the full price
  $$220.00 + $39.60$ $= $259.60$
6. Gross price (including VAT): $248.00
1. Find the VAT: the price before tax times the VAT rate
  $$200.00 \times 24%$ $= $48.00$
2. Add the VAT to the price before tax to get the full price
  $$200.00 + $48.00$ $= $248.00$
7. Gross price (including VAT): $451.50
1. Find the VAT: the price before tax times the VAT rate
  $$350.00 \times 29%$ $= $101.50$
2. Add the VAT to the price before tax to get the full price
  $$350.00 + $101.50$ $= $451.50$
8. Gross price (including VAT): $366.00
1. Find the VAT: the price before tax times the VAT rate
  $$300.00 \times 22%$ $= $66.00$
2. Add the VAT to the price before tax to get the full price
  $$300.00 + $66.00$ $= $366.00$
9. Net price (before VAT): $206.90
1. The full price is the price before tax times (1 + rate). So divide by (1 + rate) to get back the price before tax
  $\frac{$240.00}{(1 + 0.16)}$ $= $206.90$
2. The VAT is what's left: the full price minus the price before tax
  $$240.00 - $206.90$ $= $33.10$
3. Check with a shortcut: the VAT is rate ÷ (100 + rate) of the full price
  $$240.00 \times \frac{16}{100 + 16}$ $= $33.10$
10. Net price (before VAT): $217.39
1. The full price is the price before tax times (1 + rate). So divide by (1 + rate) to get back the price before tax
  $\frac{$250.00}{(1 + 0.15)}$ $= $217.39$
2. The VAT is what's left: the full price minus the price before tax
  $$250.00 - $217.39$ $= $32.61$
3. Check with a shortcut: the VAT is rate ÷ (100 + rate) of the full price
  $$250.00 \times \frac{15}{100 + 15}$ $= $32.61$