Results 1 to 4 of 4

Math Help - [SOLVED] Find Base Total Amount

  1. #1
    Newbie
    Joined
    Mar 2008
    Posts
    4

    [SOLVED] Find Base Total Amount

    I believe this to be algebra problem that I have here, but I'm not positive. I'm not even sure that I can find this value mathematically, but I'm sure someone on this forum could tell me. Here is what I need to know:

    If I have a base amount of $30 and a final amount of $30.70. I need to know how much of the base amount has been paid for and how much of the .70 tax was paid for.

    Example:

    $10 is taxable at 7%
    $20 is NOT taxable
    ------------------
    $30 Base Total

    If I have this equation here:
    $30.70 = $20 + ($10+($10 * 7%))

    An individual only pays for $10.50.

    How do I find how much of the Base amount is left?
    $30 - (Portion of payment that is base amount)=Base Amount Left

    How do I find how much of the tax total is left?
    .70 - (Portion f paymen that is tax)=Tax Amount Left
    Follow Math Help Forum on Facebook and Google+

  2. #2
    GAMMA Mathematics
    colby2152's Avatar
    Joined
    Nov 2007
    From
    Alexandria, VA
    Posts
    1,172
    Awards
    1
    I am not sure if I understand your question?

    Are you saying someone has $30, and there is a 7% tax bracket for the first $10, and 0% on the rest?

    That gives us 10*0.07 =0.7 in taxes

    If the tax bracket is up to $10.50, then taxes are equal to 10.50*0.7 = 0.735 or 73.5 cents in taxes.
    Follow Math Help Forum on Facebook and Google+

  3. #3
    Newbie
    Joined
    Mar 2008
    Posts
    4
    Thank you for the quick reply. Let me give you the exact scenario I need this for.

    This is for an auction business. A buyer may buy 2 items. One for $20 and another for $10. The auction company only charges tax on the $10. The $20 does not have tax because it is "non taxable".

    There is a buyers premium fee if someone pays with a credit card on the "base amount remaining". There is no fee if a buyer uses cash. So if the buyer pays $10.50 in cash, and the rest on the credit card. I need to know how much of the "base amount" is left so that the credit card premium will ONLY be charged on the "base amount remaining". A portion of the amount paid will pay for a portion of the .70 in tax and the other portion will pay for some of the base amount. I need to know what those portions are so the credit card premium is only figured on the base amount remaining and not the remaining tax.

    Let me know if I can elaborate more on this.
    Follow Math Help Forum on Facebook and Google+

  4. #4
    Newbie
    Joined
    Mar 2008
    Posts
    4
    Let me simply this. If I have $20 at 7% tax, I get a total of $21.40. If I use this equation:

    $21.40/1.07 = $20, it will give me by base amount before the tax was added on.

    What I need to know is if I have ($10 + ($10 + (10 * 7%))), I get a total of $20.70. How do I find out what the base amount of this is? I cant use $20.70/1.07 to get my base amount of $20 because only $10 of it is figured at the 7% rate. I need to know if there is a way to get the base amount om this scenario?

    I am opening a new thread. One that isn't so confusing.
    Last edited by lebowski; March 10th 2008 at 01:50 PM. Reason: I am opening a new thread. One that isn't so confusing.
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Replies: 3
    Last Post: August 7th 2011, 10:30 PM
  2. Replies: 4
    Last Post: October 13th 2009, 06:21 PM
  3. Find the amount of time? (Checking work?)
    Posted in the Algebra Forum
    Replies: 3
    Last Post: March 22nd 2009, 09:14 AM
  4. Replies: 1
    Last Post: December 3rd 2007, 11:58 PM
  5. Find amount of money
    Posted in the Algebra Forum
    Replies: 1
    Last Post: March 28th 2007, 06:17 PM

Search Tags


/mathhelpforum @mathhelpforum