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mollymoo

mollymoo

mollymoo

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If I have a VAT figure say £17.50 is it possible to work out the net that this figure came from which in this case I know it would be from net £100 but I need to know it from other odd figures like £55.50 and so on and so forth.

Just wondered if the clever peeps on here knew of a formula :)
 
Divide by 1.175? Not certain though.

Misread question, ignore...


EDIT: multiply by 5.71428, though there may be a tidier solution!
 
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yes it's pretty simple i remember it in gcse revision books but canny remember it or find them >.<
 
Net * 1.175 = Gross
Gross / 1.175 = Net

VAT = Gross - Net = 1.175 * Net - Net, so VAT = Net * 0.175
Net = VAT / 0.175

In your example 17.50 / 0.175 = 100

For £55.50 it would be £317.14
 
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Divide by 17.5, multiply by 100.

So if your VAT figure was £55.50, the net was £317.14 The total would then have been £372.64

I think that is what you were asking.
 
Cool cheers, I was doing it the wrong way round upside down ( completely wrong) and timesing it by 117.5 for some bizarre reason.



Tefal said:
yes it's pretty simple i remember it in gcse revision books but canny remember it or find them >.<
Click to expand...

Ahem hem yeah GCSE maths, that was about 22 years ago thats my excuse :)
 
It's easy. With the current VAT rate just remember 40 and 47. With 15% it was 20 and 23.

The answer to your question is divide by 7 and multiply by 40

If you wanted to know the net figure from a vat inclusive figure then divide by 47 and times by 40.
 
PMKeates said:
I don't understand the whole 7 and 40 thing. Surely it's no more difficult to use the actual 0.175?
Click to expand...

It's much easier to do it in your head when you don't have a calculator or spreadsheet available.

Plus easier to remember 7 and 47.
 
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