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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15940
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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how do I take off 1% from a figure using a calculator. For

Customer Question

how do I take off 1% from a figure using a calculator. For example my amount is £11,040.60 which equates to a 13.7% saving for my customer. I want to calculate a linear cost reduction, if the system doesn't perform to the said 13.7%.
Submitted: 3 years ago.
Category: Tax
Expert:  TonyTax replied 3 years ago.
Hi.

Put £11,040.60 into the memory. Press x (multiplication), then 1, then %, then -, then =. You are then left with 99% of £11,040.60 which is £10,930.19. If you want the reduction to be 3%, for example, replace the 1 with a 3.

I hope this helps but let me know if you have any further questions.



Customer: replied 3 years ago.

Thank you for that. I know you probably think I'm stupid for asking, the figure you have given me is the one I have already got, but what threw me was the 13.7%.

If I wanted to find out 12% of 13.7% and translate in to money terms, would that be the same figure?

Expert:  TonyTax replied 3 years ago.

£13,040.60 is the 13.7% potential saving.

If the saving is only 12% and not 13.7% then the process is as follows:

You divide £13,040.60 by 0.137 to get to the gross amount which is £95,186.86 (13,040.60 / 0.137). Clear the calculator and put in £95,186.86, then press x, then press 12, then press % and you get £11,422.42 which is a 12% saving for your customer.





Customer: replied 3 years ago.

The 13.7% equates to the amount of £11,040.60 not £13,040.60. Was this a mistype on your part, or am I now more confused than before?

Expert:  TonyTax replied 3 years ago.
My apologies. Let me try again:

£11,040.60 is the 13.7% potential saving.

If the saving is only 12% and not 13.7% then the process is as follows:

You divide £11,040.60 by 0.137 to get to the gross amount which is £80,588.32 (11,040.60 / 0.137). Clear the calculator and put in £80,588.32, then press x, then press 12, then press % and you get £9,670.60 which is a 12% saving for your customer.