Calculating VAT

[Izi]

What is the correct way to do this.

Say I have an item priced £10 EX vat, £11.75inc VAT.

If I bought a 1000 of these, should it be 1000 * 10 + 17.5% or £11.75*1000?

 

[Izi]

OK take Product £3.39 ex, 3.98 inc.

3.39 * 1000 = £3390 + vat = £3983.25
3.98 * 1000 = £3980

Which is correct?

 

[Izi]

You've rounded off part way through. £3.39 excluding is NOT £3.98 including, it's £3.98325. If you already have pre-rounded inc VAT figures, you'll have to take the £3.98 * 1000 price.

ahhhhh, gotcha.

maths, as you can tell is not my strong point.