Hey there! Sign in to join this conversationNew here? Join for free
    • Thread Starter
    Offline

    0
    ReputationRep:
    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.
    Offline

    12
    ReputationRep:
    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
    Offline

    3
    ReputationRep:
    (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 :/
    Offline

    21
    ReputationRep:
    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
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Would you like to hibernate through the winter months?
    Useful resources

    Make your revision easier

    Maths

    Maths Forum posting guidelines

    Not sure where to post? Read the updated guidelines here

    Equations

    How to use LaTex

    Writing equations the easy way

    Student revising

    Study habits of A* students

    Top tips from students who have already aced their exams

    Study Planner

    Create your own Study Planner

    Never miss a deadline again

    Polling station sign

    Thinking about a maths degree?

    Chat with other maths applicants

    Can you help? Study help unanswered threads

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.