calcuting what an extra 30% is???

I must be the weird one......
I'd do
50/100*30+50
or
50/100*130

makes more sense in my head for whatever reason, I know it should be 50*1.3 but whatever :D
 
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Hellsmk2 said:
30/100*50=15

0.3*50=15

1.3*50=65

First two ways seems more sensible to me since you're asking what 30% of 50 is.
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but he's not after 30% of 50 (which, as you've said, is just 0.3*50), he's after a 30% increase of 50, so it's 0.3*50 + the original 50.
0.3*50 + 50 - is easily done in 1 calculation by 1.3 * 50

If that doesn't make sense, then think of 0.3A + A as apples (A). 0.3 of an apple, plus an apple = 1.3 apples (A). So, just swap A with 50, gives that 1.3 * 50
 
VAT is interesting though.

The tax rate isn't 20% in the same way the basic rate of income tax is 20%.

On a like for like basis VAT is actually 16.7% of the total revenue the seller receives for the transaction.
 
Ace Modder said:
Hi

When you want to work a 30% increase of a set number..... how do you do it?

For example if I take £50 and I want to add 30% would you use the calculation £50 * 1.3 = £65
Or would you use £50 / 0.70 = £71.42?

I'm discussing this currently and I'm claiming the 2nd option is incorrect, as the first number is the fixed number and we are adding 30% on. The first option is right as that is 30% added on, the 2nd option is not adding 30% extra on.


Who is correct?
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The former. The latter is simply wrong. 71.42 - 50 = 21.42. 21.42 is not 30% of 50.

If I was working it out in my head, the way I would do it is this:

30% = 3 x 10%.
10% of £50 is £5.
3 x £5 = £15.
£50 + £15 = £65.

I find it easier to break calculations down into a string of simpler calculations when I'm doing them in my head. With a calculator, I'd just do 50x1.3 = 65.
 
muon said:
VAT is interesting though.

The tax rate isn't 20% in the same way the basic rate of income tax is 20%.

On a like for like basis VAT is actually 16.7% of the total revenue the seller receives for the transaction.
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surely the name gives that away... "Value Added Tax"
 
dowie said:
surely the name gives that away... "Value Added Tax"
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That just refers to a tax on the value added. Not that the tax is added on.

https://en.wikipedia.org/wiki/Ad_valorem_tax#Value-added_tax

That is why as business you get a refund on VAT for purchases as long as what you sell has VAT charged. The difference between what you buy materials for and what you sell to a customer is the "value added" and that is what as a business you effectively pay VAT on.
 
Why are people trying to show off by making a display of their knowledge on how mark up and margin differ, the way tax works etc..? The OP has clearly asked for the solution to a primary school maths problem. Let's not make it sound any more complicated than it was. :p

I also agree that this thread is a bit concerning if these people are setting the price that we pay. :eek:
 
I almost lost my job over miscalculated sales figures once.

We were targeted on our sales conversion percentage, calculated over a month. The correct way would be to take the total number of sales over the month and the total number of received calls, and use those two numbers to calculate the average conversion rate for the month.

What my manager wanted to do was add my 4 weekly average subtotals together and divide that number by 4 to get my average for the month.

She could not see in any way how these two end figures would differ until I worked the two out and showed her the difference.

She had been the manager of a sales branch for over ten years.

So there are plenty of people out there who don't know what they are doing, I'm not especially surprised at this debate.
 
With a calculator :

Same as this

G-MAN2004 said:
No idea why, but I've always just done 50 x 30% = 15

So £65
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Without a calculator :

I would work it out this way

(50/10) x3

Then add this to 50

I am sure there are quicker ways than this via mental arithmetic but this is what I would use.
 
lol well done all, gg. Adults gunna adult :p

Regardless of my jest, I don’t care how clever you are, always double check your simple maths with a calculator. ALWAYS! That’s the difference between being right all the time and being catastrophically wrong once.
 
String said:
Why are people trying to show off by making a display of their knowledge on how mark up and margin differ, the way tax works etc..? The OP has clearly asked for the solution to a primary school maths problem. Let's not make it sound any more complicated than it was. :p

I also agree that this thread is a bit concerning if these people are setting the price that we pay. :eek:
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OP mentioned in post #5 that it was to do with margins and mark-ups. And the confusion surrounding the original question then seemed to stem from the difference, so what's wrong with clarifying that as a point of discussion?
 
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