What is the correct order for applying a discount and GST to a price?
Discount first, then GST
A $400 item has a 10% discount applied. What is the discount amount?
$40
After a 10% discount, a $400 item costs $360. What is the GST (10%) on this discounted price?
$36
In Australia, GST is charged at what rate?
10%
A supplier invoice shows a cost price of $50. With a 40% markup, what is the resale price?
$70
What is the difference between a discount and a markup?
A discount reduces a price; a markup increases a price to set a resale value
Which of these is an example of Equipment, not Stock?
A coffee machine
Cups
Coffee beans
Milk
A budget is $6,000. Equipment costs total $5,200. How much is left for stock?
$800
If your order is over budget, which of these is the recommended first check?
Buy nothing at all
Ignore the budget
Whether you applied the discount before GST correctly
Give up and start a different business
A $250 item has a 20% discount, then 10% GST is added. What is the final price?
$220
A $500 item: Deal A is 10% discount then 10% GST. Deal B is 5% discount then 10% GST. Which deal gives the lower final price?
Deal A ($495)
Deal B ($522.50)
Not enough information
They're the same
A supplier invoice shows: Item: Milk, Qty: 20 L, Unit price: $2/L. What is the invoice's line total (cost price) for this item?
$40
A cost price of $120 has a 25% markup applied. What is the resale price?
$150
Your order comes to $6,200 — $200 over your $6,000 budget. Which of these actually fixes the problem?
Add another $200 to your budget
Double the size of your order
Ignore it since it's close enough
Remove or swap $200 worth of stock for something cheaper
Supplier X sells coffee beans at $22/kg. Supplier Y sells at $25/kg but offers a 10% bulk discount. Which is cheaper per kg after Y's discount?
Cannot be compared
Supplier X ($22 vs $22.50)
They're exactly the same price
Supplier Y ($22 vs $22.50)
