Quizzes & Puzzles31 mins ago
Maths Question
9 Answers
I have two weekly wage NET amounts of which 20% has already been taken off to get the net figure paid. I need to find out what the original GROSS amount was and the 20% amount taken off it.
I originally took 20% off the NET amount, but of course this is wrong and doesn't give the correct figure.
The 2 amounts are
£327
£384
Any help would be grateful. thanks in Advance
I originally took 20% off the NET amount, but of course this is wrong and doesn't give the correct figure.
The 2 amounts are
£327
£384
Any help would be grateful. thanks in Advance
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.You do not lose 20% of all your income and the amount left is not simply 80% of that with which you started.
If these are weekly amounts they will also have been subject to National Insurance. Have you taken this into account?
Assuming you have the normal allowances, to be left with £327 you need gross pay of £394 on which you will pay £38 tax and £28 NI. (I've rounded the figures to the nearesr pound). To be left with £384 you neeed to have £478 to start with on which you will pay £55 tax and £39 NI.
If these are weekly amounts they will also have been subject to National Insurance. Have you taken this into account?
Assuming you have the normal allowances, to be left with £327 you need gross pay of £394 on which you will pay £38 tax and £28 NI. (I've rounded the figures to the nearesr pound). To be left with £384 you neeed to have £478 to start with on which you will pay £55 tax and £39 NI.