Hi Everyone,
I would like to know how to figure this out in excel, though I am not very good at percentages or excel :-)
iF I needed to earn £2000 a month, with a tax rate of 20%, can I calculate the total number required?
I.e "X - 20% = 2000"
what is X?
Many thanks in advance.
Gareth
X= 2000 / (1-0.2)
100% - 20% = 1-0.2 = 0.8
2000/0.8 = 2500
earn 2500 and tax at 20% = 500
result 2000
Wayne
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