Answer:
£ 550
Step-by-step explanation:
Given,
The original cost of the holiday = £ 3500,
The percentage of VAT = 20%,
Thus, the amount of VAT = 20% of original cost
= 20% of 3500
[tex]=\frac{20\times 3500}{100}[/tex]
[tex]=\frac{70000}{100}[/tex]
= £ 700
∴ Total cost of the holiday = original cost + amount of the VAT
= 3500 + 700 = £ 4200
The amount already paid = £ 900,
So, the remaining amount have to pay = 4200 - 900 = £ 3300,
If this amount paid in 6 equal monthly payment,
Then the monthly payment = [tex]\frac{\text{Remaining amount}}{6}[/tex]
[tex]=\frac{3300}{6}[/tex]
= £ 550
