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    if I were paid £8497 by a contractor for the work I did, and that figure was the amount after tax was deducted at 20%, what were my original earnings and tax paid?


    I think I worked it out, and it goes a bit like;

    8497 / 80 * 100

    = 10621 tax paid therefore was 2124 (give or take the pennys)

    ...

    I couldn't do this earlier , so decided to join and ask a forum. The act of asking the question in a clear way helped me to visualise what I was wanting. I also didnt want to hit the send button because it became like a challenge. Good on me! and thanks to you for your passive involvement.
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    Unless I'm wrong, I worked it out that your total earnings would've been £10,196.44 and therefore the total tax payment would've been £2,039.28.

    I realise it's late though, so if I'm misleading you then someone tell me to shut it lol
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    (Original post by Olmeister)
    Unless I'm wrong, I worked it out that your total earnings would've been £10,196.44 and therefore the total tax payment would've been £2,039.28.

    I realise it's late though, so if I'm misleading you then someone tell me to shut it lol
    I come up with 10621.25 total earnings and 2124.25 tax :/
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    You currently have 0.8x and want 1x, so you do 1/0.8 * 0.8x which is 1/0.8 * 8497 = 10621

    So try it with this, I got an iPad for £300, I got a 30% discount, what was the original price?

    Try and make sense of the formula I gave by remembering £300 is a fraction of x and you want 1x
 
 
 
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