My Math Forum  

Go Back   My Math Forum > High School Math Forum > Algebra

Algebra Pre-Algebra and Basic Algebra Math Forum

LinkBack Thread Tools Display Modes
March 30th, 2015, 05:07 PM   #1
Joined: Mar 2015
From: canada

Posts: 1
Thanks: 0

Real world math help needed with my business

Thank-you in advance for everyone's help with this.

I own a home building business. And our government has a rebate of a portion of the GST (federal sales tax) on new homes.

Basically anything under 450k before GST gets a rebate. 350k gets the max rebate. It's a sliding scale and is infinitely variable depending on the price. The GST rate is 5% with a max rebate of 36% of that 5%.

Here's a link to the worksheet.

Unlike almost everything else here, prices for homes are always talked of with GST included. So if I tell someone that to build this plan on this lot, the price is 460,000. That's the GST in price.

However, I've got to actually break it down for the contract and other paperwork what the selling price is and what the GST is. So roughly 440k would be the selling price, plus 20k is the GST.

But it of course can't be approx, I need to figure out exact numbers.

I won't go into why things are priced like this, and why technically I don't even know the exact price I'm selling something for before I sell it. That would take too long to explain. Suffice to say it works better that way.

What I need help with is coming up with some kind of equation that if I plug the after tax number in, it'll figure out the pretax number, (or GST), taking into account the rebate.

Keep in mind I'm not a math guy, so it needs to fairly simple. Preferably something that will just work with excel.

Up to this point I just use the worksheet and work backwards, guessing at numbers until I get the combination correct.

Again, I appreciate any help people can offer.
xmartel is offline  

  My Math Forum > High School Math Forum > Algebra

business, math, needed, real, world

Thread Tools
Display Modes

Similar Threads
Thread Thread Starter Forum Replies Last Post
Math illiterate seeking help w/ real world problem denjoga Applied Math 6 January 2nd, 2015 10:41 AM
Conceptual real world math problem. Balls in Bags dragonaut Algebra 0 March 27th, 2013 12:46 PM
High Level math in the real world rage New Users 16 January 18th, 2013 08:49 AM
Solving world problems with Math, Science and business millenniumparty New Users 16 January 17th, 2012 10:50 PM
Solving world problems with Math, Science and business millenniumparty Algebra 0 December 31st, 1969 04:00 PM

Copyright © 2017 My Math Forum. All rights reserved.