I have a problem I can't solve as below.
If someone wanted to be paid a nett figure of £912.00 but has a 10% subcontractor allowance deducted but they themselves have a 4.5% surcharge what is the original figure that I would need to pay them? I really need to know a formula to get to this original figure. See example below;
Nett Figure = £912.00
Therefore we pay £969.70 (Derived from guess work). This is the figure I need to know
Less 10% (£96.97) = £872.73
Plus 4.5% (39.27) = £912.00 Nett
Thanks.
So the way I work it from what you have said is;
(0.9)x + (0.045)(0.9)x = 912
Therefore
(0.9)x + (0.0405)x = 912
Therefore
2x=912/(0.9-0.0405)
Therefore
2x=912/0.8595
Therefore
2x=1061.082024
Therefore
x=1061.082024/2
Therefore
x=530.54
Which is wrong. Where am I going wrong? Its been a few years since I did Maths and need help!