Finding the value of x

[Guest]

I need to find the value of x for the following equation. The total of the
invoice is $1,000, but I need to find how much the original dollar amount was
without tax. The tax is 5.5% and is included in the total of $1,000. How
would a formula in excel be set up to be able to find out the original value
of the invoice without tax? The invoice will still need to equal $1000.00,
but I need to find the original number.

 

[Pete_UK]

$1000 represents the original amount plus tax, i.e. 1.055 x original
amount. Thus, original amount =$1000/1.055, or in Excel terms if the
invoice is in A1:

=A1/1.055

giving $947.867.

Hope this helps.

Pete

 

[Don Guillett]

try this where e14=.055
=1000/(1+E14)

 

[Guest]

Assume that the $1000 is in cell A1

=A1/1.055
will give you the original invoice amount ($947.87 [.8673 to be more precise])
You can validate this with this formula
=1.055 * 947.87
turns out to be 1000.003, which will appear in currency format as $1000.00

If you had the interest in a cell, A2 for example, in percent format then
you could change the 1st formula to:
=A1/(1+A2)

 

[Guest]

=A1/1.055