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Calculate added tax cost.

Posted on 2007-03-27
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Last Modified: 2010-04-23
Hi Experts,

I have more of a maths question really. I know how to add tax onto an amount but how do I work it out backwards. i.e. if a product costs £3.99 including tax and the tax rate is 17.5% how do I know the cost that has been added before coming to the price of £3.99.  I am using vb.net 2005

Many Thanks
Lee
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Question by:ljhodgett
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dctuck earned 500 total points
ID: 18798641
A product price including VAT is 100% of the price plus 17.5%, so you have a grand total of 117.5%.

Simply divide your figure by 117.5 and multiply by 100!

i.e. (3.99 / 117.5) * 100 = 3.40 (rounded up)
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Expert Comment

by:TimCottee
ID: 18798652
dctuck, I think he wants the VAT amount, not the original cost

MyTax = MyPrice - (MyPrice/1.175)
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Expert Comment

by:dctuck
ID: 18798661
Sorry, yes... You can use the same as I had put, but multiply by 17.5 instead of 100, or use TimCottee's solution which amounts to the same thing
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