Tax Calculations

[Zelkelion]

Just going to toss this out here.

I have 500.00, post GST of 13%. How do I figure out the original amount, pre-GST? I learned how to do this once in a math course, but I cannot remember any more.

You're all clever fellows (and fellowettes), so don't disappoint me.

[Stormfox]

Pre-tax is (500)/(0.87), or 574.71.

  Code:

y = x - (0.13)x
y = x(1 - 0.13)
y = (0.87)x
y/0.87 = x


[hxy]

I thought that would be 500/1.13 = 442.48 ?

[defen]

Should logically be:
x = original price
x*1.13 = 500
x = 500/1.13

[greepish]

edit: Ah nvm, 500/1.13 would be right. But just to be sure, you're saying you have an item that costs $500.00 after GST?

[Stormfox]

I may have been misinterpreting the question, since it's income tax season in the US. The way I read it, the OP wanted to know what he had before tax was applied and got down to 500.