// Numbas version: finer_feedback_settings {"name": "Cost Price 1", "extensions": [], "custom_part_types": [], "resources": [], "navigation": {"allowregen": true, "showfrontpage": false, "preventleave": false, "typeendtoleave": false}, "question_groups": [{"pickingStrategy": "all-ordered", "questions": [{"name": "Cost Price 1", "tags": [], "metadata": {"description": "

MCQ - Pick the correct cost price when given the selling price and rate of VAT.

", "licence": "None specified"}, "statement": "

The selling price of an item is €{selling_price} including VAT at {vat}%. What was the price before VAT?

", "advice": "

Note that:

\n

Cost Price (100%) + VAT ({vat}%) = Selling Price ({100+vat}%)

\n

{percent}% = {selling_price}

\n

1% = $\\frac{\\var{selling_price}}{\\var{percent}}$

\n

100% = $\\frac{\\var{selling_price}}{\\var{percent}} \\times 100$

\n

Cost Price = €{correct}

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Select the correct answer:

\n

[[0]]

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