A nurse earns a salary of £42,000 a year and pays 15% of it in income tax. During the year she buys goods priced at £9,000 before VAT, and VAT at 20% is added to this price.
How much more does she pay in income tax than in VAT over the year?
£4,500
£4,800
£7,050
£8,100
75 exam-style questions on AQA GCSE Economics 2.1 Introduction to the national economy, covering 2.1.1a What an interest rate is, 2.1.1b Interest rates and consumer decisions, 2.1.1c Interest rates, producer decisions and calculations, 2.1.2a UK government revenue and spending, and 2.1.2b Direct, indirect and progressive taxation. Each one has a worked solution and a mark scheme showing where the marks go.