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Trying to calculate tax and grat involved in set selling price.

  1. #1
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    Trying to calculate tax and grat involved in set selling price.

    I would like to be able to key in a total price which includes a 5% tax and a 15% gratuity, and shows the actual amounts for the tax, grat and the selling price

    For instance

    If the total sale including selling price, 5%tax and 15%grat = $1
    5%tax would be $.05
    15%Grat would be $.15
    and actual sell price would be $.80

    I tried to make a spreadsheet that I can type in an all-inclusive price and the calculations would break down the actual sell price amount, tax amount and grat. amount, but the numbers are not working properly for the 5%tax and 15%grat.

    Could someone please have a look and tell me where I have gone wrong please?

    Appreciate it!

    Jim
    Attached Files Attached Files

  2. #2
    Forum Expert shg's Avatar
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    Re: Trying to calculate tax and grat involved in set selling price.

    If you tip based on the bill plus tax, then

    B9: =B5 / (1+B3) / (1+B4)
    B10: =B3 * B9
    B11: =B4 * (B9 + B10)
    Entia non sunt multiplicanda sine necessitate

  3. #3
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    Re: Trying to calculate tax and grat involved in set selling price.

    Thanks very much shg,

    Worked like a charm !!!
    Last edited by loweyj; 02-10-2010 at 02:42 AM.

  4. #4
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    Re: Trying to calculate tax and grat involved in set selling price.

    What if the tip is based on the pre tax amount?

  5. #5
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    Re: Trying to calculate tax and grat involved in set selling price.

    Never mind, I realized the mistake I was making.
    B9: =B5/(1+(B3+B4))
    BTW, this forum is great far a noob like me. I appreciate everyone's posts!

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