A bicycle repair business receives an invoice for £760. The invoice covers tools costing £500 before VAT, with VAT charged on them at 20%, and repair manuals, on which no VAT is charged. How much did the repair manuals cost?
£108
£260
£160
£100
76 exam-style questions on OCR GCSE Economics 3.5 Fiscal policy, covering 3.5.1 Government spending and revenue, 3.5.2 Budget balance, surplus and deficit, 3.5.3 What is fiscal policy, 3.5.4 Calculate effects of taxes and spending, 3.5.5 Analyse effects of taxes and spending, 3.5.6 Costs and benefits of fiscal policy, and 3.5.7 Redistributing income and wealth. Each one has a worked solution and a mark scheme showing where the marks go.