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Can someone help with some simple math?

by Old_Fart
6 replies
  • OFF TOPIC
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I'm trying to figure out my sales taxes from my store. We have a 7% sales tax, our cash register doesn't do reports.
So if I count my till at the end of the day and subtract the 100.00 I started with I end with a total for the day that includes sales and sales tax combined.
What would be the mathematical formula for figuring out what part of that total is the tax? :confused: It's not as simple as multiplying by .07 is it??? I think there is more to it than that.....
Can anyone help?
Thanks in advance! :p
#figuring sales tax
  • Profile picture of the author Wakunahum
    It would be....

    Total amount - (Total Amount / 1.07) = Tax paid

    100 - (100 / 1.07) = ~$6.54
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  • Profile picture of the author John Henderson
    1. Subtract $100 from your total amount in the cash register to give you "total takings" (sales + tax)
    2. Divide "total takings" by 1.07 (It's "1.07" because we're dividing the sales figure by itself (1) and the 7% sales tax (0.07). So 1 + 0.07 = 1.07). This will give you the "sales figure" without the sales tax.
    3. Sales tax is the difference between the "total takings" and the "sales figure" you've just worked out in step 2 - so just subtract one from the other.
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  • Profile picture of the author Old_Fart
    OK, I got it.... it is kinda simple, and kinda not.... LOL.
    Thanks guys, I appreciate it very very much.
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  • Profile picture of the author John Henderson
    No problems, OF.

    It's a difficult one because we assume that subtracting a percentage is the opposite of adding it. In other words, we think that adding 7% to $100, then subtracting 7% from the result ($107) will get us back to where we started. But it doesn't quite work like that, because 7% of $100 and 7% of $107 are two different numbers. This stumps a lot of people.

    The reversible way to do it is like this: to add 7% sales tax to my $100, I multiply by 1.07 ('1' lot of $100 plus '0.07' in sales tax, or 1 + 0.07). To to go in reverse, I simply divide by 1.07; so for any amount of money that's made up of sales + sales tax, I can extract the sales from the sales tax by dividing by 1.07.
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  • Profile picture of the author mikeink
    This why we have a government. They do not know how to do math at all.
    They that 1+1=3 or is it 1-1=1.5
    Do not try to figure out political math you will loss everytime.

    This simple math here.
    Signature

    Well let me see. OH yea need to start work on my ???????? again.
    Been working for slave wages to long.

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  • Profile picture of the author David17
    I am very bad at such calculations but i think so Waka calculated it all right
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