Geoff the skier
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VAT is 17.5% on most things. If you are trying to work out how much of a £1 (which already includes your 5% VAT) is VAT then divide by 1.05 and multiply that by 5. If you want to add 5% VAT to a quid multiply it by 1.05
I must say you are getting some astonishing answers to this - no wonder the world economy is buggered. |
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Kate Moss Diesel
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If the net figure is £1.00 then the 5% VAT is £0.05.
If the £1.00 is gross (includes VAT) then the VAT element is £0.04(761904762):
£1.00 / 1.05 x 100 = net figure: £0.95(238095238)
£1.00 / 1.05 x 5 = VAT figure: £0.04(761904762). |
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J G
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divide by 105 (100% cost +5%VAT) & multiply by 100 to get the net amount. The VAT component is the difference.
At standard rate, it's divide by117.5 & multiply by 100.
Re theother answers: I assume that the £1 is VAT inclusive - so the answer isn't 95p & 5p VAT, as that's treating £1 as 100% of cost VAT exclusive rather than VAT inclusive.
The correct answer is therefore 95.238p +4.762p VAT - obviously the sum works OK for £1 but becomes more inaccurate as the sums increase.
Thumbs down? As Geoff said, back to school in the '80s for you lot! We used to learn maths properly then... |
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WENDEL HOMES
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Take a stack of pennies one hundred high ...remove five pennies ...you have taken away 5%.
PERCENT MEANS for every portion of a hundred, so 5% is five portions per hundred....... 15% would be 15 portions per hundred ...and so on.
So let us say you have to find out what percentage amount of £30.00 would be if the percentage was 10%.then it would be ten pence times thirty = £3.00.....or you could do it the long way and add 10 up thirty times.
If you had to find 10% of £15.00 then you should work it out to be £1.50
To convert a decimal to a percentage simply multiply the decimal by 100 ie 1.5 pounds = 150 pence... or... £1.50
The usage of percent calculations can be con fusing because you can add the percentage to a sum or you can take away a percentage from a total and this is where it can be difficullt grasp because if you add five percent to one hundred you would have 105 whereas if you were to deduct 5% from that 105 then you would get a result which you may not expect vis.a vis 99.75
A good book of math revision would explain things far easier than I and avoid a lot confusion. |
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David C
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£1 x 100/105 =£0.952380952 or so to get to the net. |
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gamini d
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divide by 105 then mulify but 100 the value of product. 1.0 minus value of product gives vat figure
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Onestep downfrom God
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If the gross is £1.05, divide by 21 to get the net.
If the net is £1.00 divide by 20 to get the tax due.
(That is the simple formula you wanted) |
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lucky mummy
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Divide by 21. i.e 100 divided by 21= 4.76 which is the 5% vat, the net amount is 95.24 |
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armfot
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Are you serious?
Assuming you are, let's keep this really simple.
'5 %' is the same as writing '5 per cent' and means literally '5 in every hundred',
there are 100 pennies in every pound, so for every hundred pennies (that's every pound), 5 of them are payable in vat.
So 5% vat is 5p for every pound, or the vat on £1 is 5p.
Any clearer? |
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x_5p3v4_x
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the vat is 5p... lol
you just work out 5% of 100p..... you do this by dividing 5 by 100 and then timesing it by 100
say you wanted 5% of 200 you would divide 5 by 200 and then times by 100 and it equals 10p
:D xx |
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Beautiful -
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5%/100 = £0.05
£0.05 x £1 = £0.05p
so the 5% off one pound is 5p
and you will need to pay 95p |
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Knownow't
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divide the principal number by 100 and then muliply that answer by five that will give you the 5% |
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kayl <3
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on calculator do 1 x 95%
or the long way is 1 / 100 x 5 |
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Ffion J
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it is 0.0025 pence, if you take that from your pound, it'll leave you with 0.9975 pence. you get the answer by 1.00 x 0.05 |
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