Question

A refrigerator valued at $850 is imported from abroad. Stamp tax is charged at 2%.

a. calculate the amount of the stamp tax

Import tax on the refrigerator is $102

b. Calculate the percentage charged on the original value of the refrigerator as import tax.

c. calculate the total cost of the refrigerator

Answer 1

Value of stamp tax =[850*2]\100
=1700/100
$17