News0 min ago
quick help with maths question please
41 Answers
long time ago since i was in school!
i have a bill for £600 including vat and i need to work out how much it would be exclusive of vat (at 17.5%) dont even know where to start!
i have a bill for £600 including vat and i need to work out how much it would be exclusive of vat (at 17.5%) dont even know where to start!
Answers
Best Answer
No best answer has yet been selected by bednobs. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
-- answer removed --
tamborine, imagine your figure including VAT is £117.50 - you intuitively see that the original figure is £100 onto which was added VAT of £17.50......, no ? Well, if you take 17.5% (i.e. £20.56) from the £117.50 total you end up with not £100 but £96.94. This is where you went wrong - the 17.5% is calculated on the net figure, not the gross. The error is in the method (as alreadfy pointed out), not the calculator. To get from the gross to the net you divide by 1.175 because the gross figure is 1.175 tomes the net.
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.