math
posted by simon .
can anyone help please, i need a simple formula for working out taxes.if i had any number i need to know what the base was before 16% tax was added.
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.
Respond to this Question
Similar Questions

government(taxes)
I am looking for a list of California state taxes. So far this all I have: 1) Sales Tax 2) Trash tax 3) Electricity tax 4) State income tax 5) Gasoline tax 6) Property tax 7) Federal telephone excise tax 8) Excise tax 9) social security … 
Math
Consider the following spreadsheet: What formula would you use to calculate the number in cell B2? 
Math
Consider the following spreadsheet: What formula would you use to calculate the number in cell B2? 
math
David has just received his income tax refund of $1438.11, and he needs $1742 to buy a new television. If his money can earn % simple interest , how long must he invest his tax refund? 
Programming
I’m using VB 2008. I need to write a simple program that calculates total sales of purchases. The program should accept item costs as input calculate the tax on each item (8%) display the item cost, total cost, and total after taxes. … 
Texas Government
the excise tax on gasoline is an example of a tax based on a benefit received rather than on the ability to pay. a. yes b. no This is obviously Yes since in the book it says >> For many governments the primary source of revenue … 
7th grade Math
MegaMart collects a sales tax equal to 1/16 of the retail price of each purchase and sends this money tp the state government. a. Is the amount of tax collected proportional to the cost of an item before tax is added? 
math please help ms.sue
MegaMart collects a sales tax equal to 1/16 of the retail price of each purchase and sends this money to the state government. a. Is the amount of tax collected proportional to the cost of an item before tax is added? 
debate
i just need some point or info on pro side:  Taxes gain more money over time  Tax on capital gains at same rate as income tax will benefit the government con side:  When taxes get too high, economy goes into recession  trimming … 
Taxtation
Another client, Ms. Dunham, has asked you to help her understand how her tax is computed. You need to provide Ms. Dunham with the following: An example of how to calculate the tax liability using the tax rate table and the tax rate …