Vat

[Ric.ror]

I have no idea how to find VAT out using a calculator
When I tried dividing by 100 and x 20 I got a different figure from when I used an on-line calculator
Its important I find the correct way to use the calculator - so any help would be appreciated

[Cloverjo]

If you have the net cost and want to find out how much VAT should be added, you do as you mentioned.
If you have the gross price and want to find out how much VAT has been added already you divide the total price by 6.

[BlueScorpion]

If you divide the total figure by 1.2 that will give you the net value:

eg: Total £50.40/1.2 = £42.00

£42.00 * 20% = £8.40

[Ric.ror]

But should I need to know - say 75% - I would divide by 100 then * 75
Shouldn't that be correct?

[gingejbee]

Don't all calculators have a "%" key?
So 200 x 20% should give 40....no "=" key needs to be pressed!

[bhg481]

Ric.ror - yes, you are correct. % just means "hundredths", so multiplying by 75 and dividind by 100 will give you 75 hundredths which is 75%.

Not all calculators have a % key and it works differently on different ones.

Cloverjo answered your initial question accurately and clearly.

[gingejbee]

....well, all the calculators that I've ever seen/used have a "%" key....

[Ellipsis]

> When I tried dividing by 100 and x 20 I got a different figure from when I used an on-line calculator

This means that the online calculator was not dividing by 100 and x 20. You are not comparing like with like.

The online calculator may have been dividing by 6, or by 1.2. Previous answers tell you why it would do this.

[Goofy]

I agree with BlueScorpion. This works for all vat rates eg when rate was 17.5% you would divide gross price by 1.175 to give the net.

[Peter Pedant]

if you have an object without VAT ( we call that nett )
then the VAT is 20% or 0.2x
and is added on to give the Gross

three columns - Gross - Nett - VAT - everyone does it

if you a Gross figure - that is inclusive of VAT then the nett figure is divide 1.2
and the VAT is divide by 6

I am doing book keeping at present in adult mixed ability teaching and everyone comes up with - " but I like doing twizzle twizzle twizzle splat splat "
and the teacher snarls " and the answer comes out wrong "
and the wimp wimps ' yeah ....'
and the teachers snarls well you gonna do it my way which works ....

and the rest of us do play ground whoops and yell - "tell him teachie!" - "you da tops !" and from me " O I say !"

currently VAT is 20% with no plans to change
and a very few at something else ( vaginal tampons I think )

[bhg481]

I have 2 calculators readily to hand, both of which have % keys.

On one of them if I punch 100 + 20 % = I get 120

On the other if I punch 100 + 20 % I get 120
if I punch 100 + 20 % = I get 220.

See the difference in operation ( = key or not). You need to look at the instructions for your particular calculator to see exactly how to use it.

Because I have several different calculators I find it easier to ignore the % key rather than remember how it works on each one.

[Old_Geezer]

You need to know if you are staring with the VAT added price or the VAT not yet added price.

If you have started with the VAT added price then :

(PRICE / 120) * 100 will give you the price before VAT was added.
(Or you could just divide by 1.2)

(PRICE / 120) * 20 will give you the added VAT.
(Or you could just divide by 6)


If you have started with the price VAT added price before VAT was added then :

(PRICE / 100) * 120 will give you the price after VAT is added.
(Or you could just multiply by 1.2)

(PRICE / 100) * 20 will give you the VAT to be added on.
(Or you could just multiply by 0.2)

[Old_Geezer]

STARTING
Like I typed !!!!

[Peter Pedant]

yup that is what my text book says OG

[EDDIE51]

Is it just me or do others find it astounding that an adult in the UK can have so little idea of basic maths that they can't work what 20% of a price is even with a calculator?
My 6 year old granddaughter can do it in her head.

[bhg481]

It's just as astounding to me that there are adults who don't know the difference between it's and its.

[BlueScorpion]

@ EDDIE51

If you are trying to get the vat element from the gross figure it is not 20% - that is where Ric.ror went wrong in the first place

[Peter Pedant]

Oh god ed wipe your nose and take your snotty face off !

we gonna do basic costing tonite - which is linear combinations only very simple and I am so out of it I have started the MIT lecture course 18.06 on linear combs to stave off terminal boredom. when I get an imposs example I will of course ask you .... had terrible trouble with eignevectors the other night ....

[EcclesCake]

Any plans to do an English evening class to save us from your dubious use of a delightful language?

[Ric.ror]

How dare you
I have not one but two English a'levels - achieved back in the day when they actually meant something
To the rest of you I would like to thank you for your answers

[fiction-factory]

EcclesCake's comment was to PeterPedant, Ric.ror