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Working out gross if I know the net amount

  1. 01-13-2011, 12:46 PM #1
    plumfin
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    Working out gross if I know the net amount

    Hi, I am looking for a little help to work out the gross amount that would generate the net amount.

    I know the cost value and I need to know how much I need to add on, to allow for a deduction of 25% to get back to the cost value. I have been working on "x*1.25", but this is clearly wrong - can anyone help?

    thanks
    Plum
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  2. 01-13-2011, 12:48 PM #2
    shg
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    Re: Working out gross if I know the net amount

    Welcome to the forum.

    =Cost/(1-25%)
    Entia non sunt multiplicanda sine necessitate
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  3. 01-13-2011, 12:51 PM #3
    Marcol
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    Re: Working out gross if I know the net amount

    Could you run that past me again?....
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  4. 01-13-2011, 12:55 PM #4
    plumfin
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    Re: Working out gross if I know the net amount

    Quote Originally Posted by shg View Post
    Welcome to the forum.

    =Cost/(1-25%)


    Thank you. can you just confirm I am doing the whole thing right?

    If my gross is £600, what do I multiply that by to get the amount less VAT? I was using /1.2, but this seems wrong. thanks
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  5. 01-13-2011, 12:58 PM #5
    shg
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    Re: Working out gross if I know the net amount

    If VAT is 17.5%,

    Net: =Price * (1-17.5%)
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  6. 01-13-2011, 01:00 PM #6
    MarvinP
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    Re: Working out gross if I know the net amount

    Hi plumfin and welcome to the forum.

    If [Cost - ( .25 * Cost)] = Price ... you are given the Price and deduction amount (.25)
    Then this is the same as (factor cost out of the above...)

    Cost ( 1 - .25 ) = Price or

    Cost = Price / (1-.25)

    See if that works - Algebra not Excel needed?
    http://mathforum.org/library/drmath/view/58077.html
    One test is worth a thousand opinions.
    Click the * Add Reputation below to say thanks.
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  7. 01-13-2011, 01:02 PM #7
    shg
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    Re: Working out gross if I know the net amount

    Think ya got cost and price reversed, there, Marvin.
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  8. 01-13-2011, 01:03 PM #8
    plumfin
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    Re: Working out gross if I know the net amount

    Quote Originally Posted by MarvinP View Post
    Hi plumfin and welcome to the forum.

    If [Cost - ( .25 * Cost)] = Price ... you are given the Price and deduction amount (.25)
    Then this is the same as (factor cost out of the above...)

    Cost ( 1 - .25 ) = Price or

    Cost = Price / (1-.25)

    See if that works - Algebra not Excel needed?
    http://mathforum.org/library/drmath/view/58077.html


    Thanks v much , sorted I think
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  9. 01-13-2011, 01:16 PM #9
    Marcol
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    Re: Working out gross if I know the net amount

    Hmm?

    Is this what you are asking? (See the attachment for the formulae)

    PHP Code: 
    Known Gross        Cost    VAT @ 17.5%    Total
     £600.00          £510.64      £89.36      £600.00 
     £117.50          £100.00      £17.50      £117.50 
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  10. 01-13-2011, 01:59 PM #10
    MarvinP
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    Re: Working out gross if I know the net amount

    I took Cost as what the seller buys it for and Price is what they sell it for (after reducing the number to get rid of it.)

    This is the same problem as reducing 100 by 10% gives 90 but adding 10% of 90 doesn't get back to 100.
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  11. 01-13-2011, 02:05 PM #11
    plumfin
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    Re: Working out gross if I know the net amount

    Thanks all, can you take a look at my spreadsheet with the advised formulae, and give me some opinions ? First of all, if it works???

    Thanks
    P
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  12. 01-13-2011, 02:08 PM #12
    MarvinP
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    Re: Working out gross if I know the net amount

    I'm new to the Achronym of VAT as on http://en.wikipedia.org/wiki/Value_added_tax.
    I'm realizing Cost and Price can be reversed depending how you see the product.
    In the USA we have a Sales Tax (along with a hug list of other taxes) to be paid, but no "VAT" for individuals.
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