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Calculating VAT? help for sisters maths gcse :S
Former Member
Posts: 1,876,323 The Mix Honorary Guru
She's got her maths gcse tomorrow (calculator) and I couldn't help her out with calculating VAT, you know the whole 17.5% business? Does anyone here know maths really well and could give me an example that I could leave out for her before she goes in for her test tomorrow?
Bitesize is shit :banghead:
Bitesize is shit :banghead:
Post edited by JustV on
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VAT = 17.5%
17.5/100 x £20 = 0.175 x 20 = £3.50
Item incl VAT = £20 + £3.50 = £23.50
OR
Item costs £20 retail. How much did the item cost before VAT?
VAT = 17.5%
Retail price = 100% of cost + 17.5% VAT = £20 = 117.5%
.: 100/117.5 * 20 = cost before VAT = £17.02
10% + Half of that (5%) + Half of that (2.5%) = 17.5%
But to work it out on a calculator:
VAT = Price x 0.175
Price + VAT = Price x 1.175
Hope that helps.
Big sis saves the day. (well with a little help :flirt: )
yeh wooooaaaaaah just posted it above