stoopid ass

kazseera

ok lol i think the more im studying, the more dumber im getting lol
i wanted to know how do you work out the from net or gross

i just dont know the formula.

ccreaven

?

do you mean to work out net from gross and to work out gross from net?

evil edna

gross *7/47 = vat

ccreaven

to get gross you * net by 17.5%
to get net you divide by 117.5 then * 17.5

evil edna

gross/1.175 = net

Jan

Do you mean how to work out the net figure from gross for VAT?

If VAT = 17.5% and you have the gross figure, divide by 117.5 and multiply by 100.
eg if gross figure is £117.50 div by 117.50=1 x 100= £100. You can always check it is correct by multiplying net by 17.5% = VAT. So £100 net x 17.5/100=£17.50 + £100 = £117.50gross
Another way is multiply by 7/47.
If VAT = 5% divide gross by 105 and muliply be 100.

Hope this makes sense!

kazseera

thank u people good luck for the exam