Need help creating an Excel formla to calculate price before sales tax
 

Hi, can somebody tell me how to set up a formula that will give me the
BEFORE TAX PRICE given SALES TAX RATE and FINAL PRICE?

For example, I sell 3 apples to Bob for $8. Assuming sales tax is 7%,
I need a formula that will show me what the before tax price is.

I know that the equation on paper would be something like:

BEFORE TAX PRICE + (BEFORE TAX PRICE X 7%) = $8

But how do I set something like this up in Excel so that I can simply
input the FINAL PRICE and have the BEFORE TAX PRICE outputed? Thanks!

Jason

Need help creating an Excel formla to calculate price before sales tax
 

Assuming that A1 contains your final price, try...

=A1/1.07

or

=A1/(1+B1)

....where B1 contains your sales tax rate, such as 7%.

Hope this helps!

In article .com,
" wrote:

Hi, can somebody tell me how to set up a formula that will give me the
BEFORE TAX PRICE given SALES TAX RATE and FINAL PRICE?

For example, I sell 3 apples to Bob for $8. Assuming sales tax is 7%,
I need a formula that will show me what the before tax price is.

I know that the equation on paper would be something like:

BEFORE TAX PRICE + (BEFORE TAX PRICE X 7%) = $8

But how do I set something like this up in Excel so that I can simply
input the FINAL PRICE and have the BEFORE TAX PRICE outputed? Thanks!

Jason

Need help creating an Excel formla to calculate price before sales tax
 

Below is content of cells A1:B3:
A1:A2 show content of Cells B1:B2
B3 is simply the Value 8.
A B
1 =B3/1.07 7.48
2 =B1*0.07 0.52
8.00



Hope that helps..

wrote in message
oups.com...
Hi, can somebody tell me how to set up a formula that will give me the
BEFORE TAX PRICE given SALES TAX RATE and FINAL PRICE?

For example, I sell 3 apples to Bob for $8. Assuming sales tax is 7%,
I need a formula that will show me what the before tax price is.

I know that the equation on paper would be something like:

BEFORE TAX PRICE + (BEFORE TAX PRICE X 7%) = $8

But how do I set something like this up in Excel so that I can simply
input the FINAL PRICE and have the BEFORE TAX PRICE outputed? Thanks!

Jason

Need help creating an Excel formla to calculate price before sales
 

Just divide your final price by your tax rate + 1. So, let's assume your
Final Price is in cell A1. Your formula would be:

=A1/1.07

HTH,
Elkar



" wrote:

Hi, can somebody tell me how to set up a formula that will give me the
BEFORE TAX PRICE given SALES TAX RATE and FINAL PRICE?

For example, I sell 3 apples to Bob for $8. Assuming sales tax is 7%,
I need a formula that will show me what the before tax price is.

I know that the equation on paper would be something like:

BEFORE TAX PRICE + (BEFORE TAX PRICE X 7%) = $8

But how do I set something like this up in Excel so that I can simply
input the FINAL PRICE and have the BEFORE TAX PRICE outputed? Thanks!

Jason