Calculate Gross Amount from Net

phil170258

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Joined
Apr 7, 2021
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1
Hi,

I'm an author and have lost my payment slips so am trying to work out gross payments from the amount I have received. I know from previous years that if I receive net $990 the gross was $1,000 my agent took 10% ($100) and took another 10% (10$) of that for GST. Is there a formula I can use to calculate gross from net for both 10% and 12.5% (i have 2 agents!) thanks Phil
 

JeffM

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Sep 14, 2012
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6,437
What you have written is unclear. 10% of 1000 is 100, but
1000 - 100 = 900 rather than 990 so your numerical example makes no sense.

“Took another 10%” for Greenwich Mean Time is not 10 dollars; we already said that 10% of 1000 is 100.

Now whether your agent gets an extra ten percent of your royalties for clock watching or just gets an extra 10% of the basic commission for clock watching, the answer will not be 990. It will either be 890 or 800.

I cannot tell how the commission at 12.5% is factored into your example. And what does that agent take for clock watching?

Please clarify your question.
 

HallsofIvy

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Jan 27, 2012
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7,535
I believe the OP meant that the agent took X= 10% of the base amount then another 10% of X.
That would be 0.1X+ 0.1(0.1X)= 0.1X+ 0.01X= 0.11X.
 

JeffM

Elite Member
Joined
Sep 14, 2012
Messages
6,437
I believe the OP meant that the agent took X= 10% of the base amount then another 10% of X.
That would be 0.1X+ 0.1(0.1X)= 0.1X+ 0.01X= 0.11X.
Quite possibly. In which case, the correct answer would 890 rather than 990. But the question is such a mess, I’d prefer to await clarification before answering.
 
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