base value example 6
example: The price of gloves is € 48,- including 20% VAT.
question: What was the price excluding VAT?
solution:
given: the part = € 48,- the rate = 120% (100% + 20%)
wanted: base value
formula:
base = part * 100 : rate
base = 48 * 100 : 120
base = € 40,-
answer:
The price excluding VAT is € 40,-.