Egg Heads this way please!
- Thread starter Doosht
- Start date
Yes. Just do it this way. Well, If you'd like to get it wrong that is.
This is more or less right. Just do it by trial and error.
The correct answer is about £2553.
just do £2553 x 0.175 = £446.78
Total = £3000
Therefore the VAT is about £447
Soldato
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- 28 Oct 2003
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- Worthington-on-sea
VAT = 7/47 of Gross
Net = 40/47 of Gross
Net = (3000/47)*40
Net = £2553.19
Net = 40/47 of Gross
Net = (3000/47)*40
Net = £2553.19
It already happened about a page ago (basmic said it first!)
Soldato
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The first reply was correct...
Nitefly said:Divide by 117.5! Multiply by 100!
(I hope)
As I said, one of the scariest threads ever! These forums display the collective intellectual capacity of a peanut sometime.
Dunno if anyone has metioned doing it this way but while the current vat rate is 17.5 % the following applies.
3000 /47*40 =NET amount so in this case 2553.19
3000/47*7 = VAT amount so in this case 446.81
same principle works for any figure. also works going from Net to gross
i.e. 2553.19 /40*47 = 3000
or for the VAT applicable on a amount
2553.19 /40*7 = 446.80
Dram
3000 /47*40 =NET amount so in this case 2553.19
3000/47*7 = VAT amount so in this case 446.81
same principle works for any figure. also works going from Net to gross
i.e. 2553.19 /40*47 = 3000
or for the VAT applicable on a amount
2553.19 /40*7 = 446.80
Dram
Well, actually, Nitefly got it right in the very first reply, he just did more along the percentage line of thinking by dividing by 117.5 and then multiplying by 100 rather than just dividing by 1.175.
People tried to tell me something like that just didnt stick at all. i find it so much simpler to just say: 1.175 when working anything out
Indeed it was!
I did just write little a maths lesson explaining the whole 1.175 times and divide thing but I don't think I'll post it...
I can understand how it's seems a bit weird if you haven't thought it through, though.
Soldato
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Agreed, but stupid people can easily get confused by the multiplication or division of the same number for different desired outcomes (see above thread). So remembering gross at 47/47, with 40/47 being the net and 7/47 the gross is sometimes simpler.
About 4 tonnes?
Man of Honour
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Do I get credit for being the first to actually put the correct number??
Soldato
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Indeed, although I took the OP to be asking for an easy way to do it - working out 15% of anything is pretty easy, not so easy to divide by 1.175 or whatever - OK it gives you an accurate answer, but I did think the OP wanted a quick way to do it in their head.