Jump to content

Recommended Posts

Posted

HI

I used to be able to do this but math 11 is better that 27 years ago

in the great land of canada we got the gst

at present it is 5%

 

now the question is how do I figure the tax amount and the pretax amount from just having the after tax amount on a receipt ?

ei. x+5%=20.67

i need to know x

 

see some wise people up here just let their machine pump out reciepts but do not give the break down.

and this could mean up to $100-200 buck for good old spungie

as well as paying less tax and keeping more of the gst I collect through my business.

 

So please all you smart engineers and closet rocket scientist could you help a poor guy out

Posted (edited)

After tax price/1.05 = cost of item before tax. (with GST at 5%), because the tax is 5%, ie 0.05 of the price, and so the price with tax = price x 1.05.

 

Rocket scientist? smart engineer? HA. try "Grade 10 math stooge". :tongue:

Edited by Rambler 1-1
Posted

120.50

.05 ×

--------------------------

6.025 =

 

120.50 +

--------------------------

126.525 =

 

1.05 ÷

--------------------------

120.5 =

Posted

ya tried all those sulutions

 

closest i get is after tax total x.95237 = before tax amount before tax subtracted from total = amount of tax

i get within 2 cents on 1300 dollars

 

the take 5% off and then add iot back leaves an error of 6 cents per 20 dollars

adds up in a hurry

 

thanks for the help

Posted (edited)

One way to look at it:

 

i.e. x+5%=20.67

 

means 105% of some amount (math-heads have to call it "x") is 20.67

 

dividing 20.67 by 105 = .1969 (or 1/105th of 20.67)

 

Multiply .1969 by 100 = 19.69 (we have "solved for x")

 

Subtract 19.69 from 20.67 = .98 tax

 

as a check, divide .98 tax by 19.69 price = .04977 (pretty close to 5%)

 

It would be a snap to set up an excel spreadsheet and let "Bill" do the work.

Edited by Rangerdog

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy, and We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..