Forum Discussion
I need a formula for this
the amount is 100,000. i want 7% from first 30,000, and 11% from second 30,000 and 15% from third 30,000 how can i write a formula that will always work even when the amount is lower than 100,000
So here is my challenge,
I assume amount in question is 87,333.33
first 25,000 tax on it will be 7% = 1,750
Next 25,000 tax on it will be 11% = 2,750
Third and last amount i have a remaining of 37,333.33 (50,000 minus 87,333.33) that will be taxed at 15% = 5,599.99
Total will be 10,099.99
but with formula provided if I put 87,333.33, I will have 10,926.67 instead
Note that first amount is 25,000 at 7% and second as well is 25,000 at 11% and not 20,000 as i sent it earlier
I apologies if I am wasting your time and thank you in advance
I assume amount in question is 87,333.33
first 25,000 tax on it will be 7% = 1,750
Next 25,000 tax on it will be 11% = 2,750
Third and last amount i have a remaining of 37,333.33 (50,000 minus 87,333.33) that will be taxed at 15% = 5,599.99
Total will be 10,099.99
but with formula provided if I put 87,333.33, I will have 10,926.67 instead
Note that first amount is 25,000 at 7% and second as well is 25,000 at 11% and not 20,000 as i sent it earlier
I apologies if I am wasting your time and thank you in advance
That is because you provided incorrect information, as you mention yourself. You wrote "first 20,000 7% Next 20,000 11%" but now it turns out to be 25000 instead 20000.
- Thank you it woked