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Question

If an amount is given and the final amount after-tax is given then how to calculate the tax percentage?


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Solution

Calculate the tax percentage

The tax amount can be calculated as

Tax Amount= Final price of product after tax -Price of product before tax

Now, the tax percentage can be calculated as

Taxpercentage=TaxamountPriceofproductbeforetax×100

Consider this example:

Let the price of a product before tax be Rs. 1000

Let the final price of product after tax be Rs. 1200

Now, the tax amount=1200-1000

Tax amount =Rs. 200

Therefore the tax percentage can be calculated as

Tax percentage =2001000×100

Tax percentage =20%

Therefore, tax percentage can be calculated by subtracting price of the product before tax from the final price of the product after tax.


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