I know how much I paid for a purchase in total, and the tax rate is 6%, how much was the item?

Question

I need to see the formula. Show your work.

Answer 1

To find an percentage of something, is the price divided by 6 time 100. As you are after the original price before the tax, it is the exact opposite, so there for the formula is

the price divided by 100, multiply by 6.

Before I start an example, can I just state I wish our tax was 6%, it is 18% here.

for example

say the final figure after tax was £30

$30/100 x 6. The figure before tax was $28.70

Answer 2

Simple...

you paid 106 percent of the actual price...

So, you simply divide the total by 1.06 and you will get your original price.

The first answer is wrong because is you take a percentage of the final price say 6% it will not equal 6% of the original price.

If you want to multiply you have to multiply the final price by 1/1.06 or 0.94339622641509433962264150943396... much easier to simply divide by 1.06 and round.

Answer 3

If you are good at multiplication, multiply the tax included total price by 0.943 to find the pre-tax price.
If you are good at division, divide the tax included total price by 1.06 to find the pre-tax price.
(Generally, if you know the total amount price and the %Tax, then the object price is { Total paid divided by [1+(%Tax)/100]. In your case it will be [Total paid divided by [1+(6/100)].

Answer 4

saleprice = (total_amount_you paid * 100) / (100 + percentage)
for example
if you paid 159 including tax and tax is 6 %
saleprice = (159 * 100)/ (100 + 6) = 15900/106 = 150.
Hope it makes sense.

Answer 5

total price 6
------------ x -----
X 100

cross multiply total price by 100
and then 6 and X =6x
so now you have
6X = what ever you got when you multiplyed total price and 100
and divide by 6 on each side so you get X= ?

Answer 6

Take the total price and divide by 1.06

Answer 7

0.94x total