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| Thread ID: 112882 | 2010-09-25 21:14:00 | Net of GST | Bryan (147) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1139599 | 2010-09-26 00:24:00 | 115 / 1.15 = 100 :) Of course ;). That's not what Ken was saying though - he was pointing out that 115 - (115 * 0.15) != 100. |
Erayd (23) | ||
| 1139600 | 2010-09-26 00:24:00 | (115 - 15%) = 17.25 :) | Snorkbox (15764) | ||
| 1139601 | 2010-09-26 00:26:00 | (115 - 15%) = 17.25 :) That's not right. 115 - 15% = 115 - (115 * 0.15) = 97.75. Perhaps what you meant was 115 * 15% = 115 * (115 * 0.15) = 17.25? Note that neither of these is a correct GST calculation for a net price of 100. |
Erayd (23) | ||
| 1139602 | 2010-09-26 00:30:00 | ok, forget what I said. it was only off the top of my head. | spaceman8815 (4112) | ||
| 1139603 | 2010-09-26 00:33:00 | To calculate the GST price use the formula: <price>/(1-0.15) or <price>/0.85 eg. 100/0.85 = $117.65 then 117.65 - (117.65*0.15) = 100Hate to break it to you Spaceman8815, but both of those calculations are utterly wrong. The correct way of calculating GST (as noted by Pcuserwinvista above) is: net * 1.15 = GST incl. , e.g. $100 * 1.15 = $115. GST incl. / 1.15 = net, e.g. $115 / 1.15 = $100. To obtain just the GST portions, use the following: net * 0.15 = GST, e.g. $100 * 0.15 = $15. GST incl. * 3 / 23, e.g. $115 * 3 / 23 = $15. If you prefer working in decimal only, you can replace 3/23 in the above equation with 0.1304347826087. Whether that's such a good idea is an entirely different story - in most cases, you'd have to be some kind of masochist to use an unwieldy number like that for something as simple as a GST calculation - most people like to remember these! |
Erayd (23) | ||
| 1139604 | 2010-09-26 00:42:00 | That's not right. 115 - 15% = 115 - (115 * 0.15) = 97.75. Perhaps what you meant was 115 * 15% = 115 * (115 * 0.15) = 17.25? Note that neither of these is a correct GST calculation for a net price of 100. I was aware neither was correct but was demonstrating Kenj was correct with what he said. www.onlineconversion.com If you type 15 in the percent and 115 in this calculator you end up with 17.25 which is patently NOT the Net GST content. I hope this makes it more clear what I meant. |
Snorkbox (15764) | ||
| 1139605 | 2010-09-26 00:45:00 | Oh I know what you meant Snorkbox, I was just correcting the math. As the result still wasn't a valid GST calculation, I thought I'd better make it clear in my post as well, lest some unsuspecting member might decide to use it as such :). | Erayd (23) | ||
| 1139606 | 2010-09-26 00:57:00 | 100 + 15% = 115 115 - 15% = 97.75 (don't ask me why) LL |
lakewoodlady (103) | ||
| 1139607 | 2010-09-26 01:03:00 | Perhaps I should have said 15% OF 115 is 17.25. :) | Snorkbox (15764) | ||
| 1139608 | 2010-09-26 01:05:00 | Perhaps I should have said 15% OF 115 is 17.25. :)Yep :D. | Erayd (23) | ||
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