Sunday

November 23, 2014

November 23, 2014

Posted by **simon** on Sunday, April 15, 2007 at 6:19am.

i know the formula if the tax was 17.5%,what ever the total is if you divide that by 47 then x that by 7 that will give you the base before tax was added.

example 50 divide 47 x 7 = 7.44

this gives me the total tax i paid if the rate was 17.5% , i need to know a similar formula if the tax is 16%,thanks.

why bother with a "formula"?

If you have the total after 17.5% tax was added, that total must represent 117.5% of the original.

So if you divide your total by 1.175, which is 117.5%, you get the original.

Now multiply that by .175 and you have the amount of the tax.

so $50÷1.175x.175 = $7.45

(notice 1.175/.175 = 1175/175 = 47/7 )

if you had 16% your calculation would be

$50÷1.16 x .16 = .....

.16/1.16 = 4/29

So your formula would be "divide by 29 then multiply by 4"

for 12% it would be .12/1.12 = 3/28

etc.

Personally, I would never use such a "formula", just do the math by reasoning it out.

**Answer this Question**

**Related Questions**

government(taxes) - I am looking for a list of California state taxes. So far ...

debate - i just need some point or info on pro side: - Taxes gain more money ...

Texas Government - the excise tax on gasoline is an example of a tax based on a ...

math - David has just received his income tax refund of $1438.11, and he needs...

Programming - I’m using VB 2008. I need to write a simple program that ...

finance after tax profit margin - The ABC Corp. had net income before taxes of $...

finance - The corporation earns $3 per share before taxes. once it has paid ...

Need help, 3 questions - 19. Most readers will wait patiently for the next book ...

Math - I have the answers but i need to know the steps. Michelle has $60. If her...

financial planning - corp had earnings before taxes of $400,000 and sales of $2,...