Setting up excel formula [Solved]

Carlo1991 - Dec 3, 2017 at 06:23 PM - Latest reply: ac3mark 8377 Posts Monday June 3, 2013Registration dateModeratorStatus December 15, 2017 Last seen
- Dec 4, 2017 at 05:19 PM
Hello,

I need some help with the excel formulas

I have new taxation laws that apply my organization from January.

The current taxes are 10% +10%
So if it was 100 it came upto 120

Now they have introduced one more variable. It is 10% + 10% + (another 5% on base with one 10%)

so 100 + 10 + 10 +( 110*5%) =125.5

I know how to set up the formula to calculate the tax. But how do I get the base amount if I have the amount with taxes?

For example, How do I set up a formula to find 100 if I know the total amount is 125.5?

Thank you in advance.

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ac3mark 8377 Posts Monday June 3, 2013Registration dateModeratorStatus December 15, 2017 Last seen - Updated by ac3mark on 3/12/17 at 07:47 PM
+1
Helpful
6
Wow, your organization needs to hire an analyst! I am saying, that is a relatively easy problem for the modern organization. It is called the cost of doing business, and sometimes you need to pay for the things that the business requires. Perhaps, a different hiring method needs to be utilized when hiring the back office in such an organization.

This is not a technical problem, but a legal one. You really need to consult a pro in your area to assist, as we are discussing taxes.

What happens when you tell the tax man that you plugged in an EXCEL formula you cut and pasted from CCM.NET? Do you thing he cares?

It's kind of fun to do the impossible! -Walter Elias Disney
ac3mark 8377 Posts Monday June 3, 2013Registration dateModeratorStatus December 15, 2017 Last seen - Dec 4, 2017 at 05:09 PM
It is possible, it is just a very sensitive, important part of business, and typically you get what you pay for. Although I am 100% confident we can supply a calculation, it is a matter of if it is correct for your region! I truly hope you understand, and Please forgive me if I came across harsh!
Carlo1991 > ac3mark 8377 Posts Monday June 3, 2013Registration dateModeratorStatus December 15, 2017 Last seen - Dec 4, 2017 at 05:12 PM
Hi,

Thank you for replying. Took me a few hours but I figured out the calculations. It was really simple :-D


Thank you for your time.
ac3mark 8377 Posts Monday June 3, 2013Registration dateModeratorStatus December 15, 2017 Last seen - Dec 4, 2017 at 05:13 PM
Can you post here, so that others may see what your solution was, please.

Thank you for the feedback!
To find the base price, just need to divide the amount by 1.255
ac3mark 8377 Posts Monday June 3, 2013Registration dateModeratorStatus December 15, 2017 Last seen - Dec 4, 2017 at 05:19 PM
Thank you Carlo!
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