I can't figure out how to subtract the sales tax from the complete total. the total is $6510 and I need to find ou t what the total is before the sales tax which is 5%
2006-11-09 14:53:01 · 3 answers · asked by sugar_twilight 2 in Business & Finance ➔ Other - Business & Finance
Divide the total by 1.05
Example=$6510.00 / 1.05 = $6200.00
to check yourself
$6200.00 x .05 = $310.00
$6200.00 + $310.00 = $6510.00
Additional Note: Using the example given above and below this one, the figures do not add up:
If you take their figure of $6,184.50 times the tax of 5% you get: $309.23. Add the two together: $6,184.50 plus $309.23 you get $6493.73, not $6510.00.
2006-11-09 15:00:36 · answer #1 · answered by LmL 2 · 1⤊ 0⤋
I'm taking accounting right now (i'm a senior in highschool) and we're like a chapter away from learning that stuff. I would assume, however, that you would take 100%-5% which would equal to 95% and then times that by 6510, which would be 6184.5 before sales tax.
100-5= 95
.95 (95%) * 6510 = 6184.5
2006-11-09 15:54:58 · answer #2 · answered by ? 5 · 0⤊ 1⤋
If the tax was 5%, then multiply 6510 by .95 (95% of the total) and that's the original price....6184.50
2006-11-09 15:00:21 · answer #3 · answered by Deirdre H 7 · 0⤊ 1⤋