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If you have £45 and want to work out the percentage of VAT @ 20% I know that you times it by 20 and divide it by 120 to give you the figure. I want to know how you come about that sum and how I would apply it to other figures for example £45 VAT of 25%.
Hope my explanation makes sense.
Many thanks
I have no clue what you mean by that! "Times" what by 20? to give you what figure? If the initial value was 45£ and the tax is 20% of the value, then the actual amount of the tax is 45 time .20 (NOT 20) which is equal to 9£. Then the price, with tax add, would be 45+ 9= 54£. That is also 1.20 times 45£.Quote:
Originally Posted by mathsnumpty
Not very much sense! Sounds to me like you are memorizing formulas (poorly) without understanding what is being done.Quote:
I want to know how you come about that sum and how I would apply it to other figures for example £45 VAT of 25%.
Hope my explanation makes sense.
Many thanks
What is "25% of 45£? (That is the same as 0.25 times 45£.) What do you get when you add that tax to 45£?