Ms Excel and Calculating Percentages

Durko 13:29 17 Apr 2006
Locked

Simple stuff I know but the brains not in gear as it should be today. I have an excel worksheet and want to work out salaries after tax e.g 22%

e.g.
in column A1 = £16,000 (salary)
in column A2 = A1/52 to give weekly wage
in column A3 = A2 * by 4 to give monthly total
in column A4 = stuck on monthly total less 22% to give salary after tax....

help much appreciated and hope this makes sense.

Durko

VNAM75 13:41 17 Apr 2006

First, A2*4 wont give accurate monthly total. It should be A1/12.

In A4, =sum(A1/12)*0.78

RussG 13:47 17 Apr 2006

This should do it - in cell A4
=A3-(A3*0.22)

RussG

VNAM75 14:02 17 Apr 2006

Your yearly Net pay should be 16,000 - 22% = £12,480. Therefore, (A1/12)*0.78 = (16000/12)*0.78 = £12,480. Monthly net pay is 12480/12 = £1040. Therefore:

Yearly: 12,480/16,000 = 0.78 ie. after 22% deduction.

Monthly: 1040/1333.33 = 0.78 ie. after 22% deduction.

How you calculated A3 is wrong - there are not 4 weeks in most months eg. 31 days is "4 months plus 3 days" You have calculated there to be 48 weeks in a year.

VNAM75 14:04 17 Apr 2006

sorry I meant "4 weeks plus 3 days"

Durko 14:06 17 Apr 2006

Vnam
can you just explain what the 0.78 represents ?

Russg/Vnam - Thanks for the help.

Durko

Durko 14:10 17 Apr 2006

Vnam

Thanks for the explantion etc your assistance is very much appreciated...

Durko

VNAM75 14:14 17 Apr 2006

0.78 is the fraction or percentage ie. 78%. If you are taxed at 22% you should get 78% back or 0.78.

Durko 14:18 17 Apr 2006

Vnam

Thanks very much for the final description.

Durko

VNAM75 14:21 17 Apr 2006

"Therefore, (A1/12)*0.78 = (16000/12)*0.78 = £12,480"

Sorry my mistake, please omit the /12 to get £12,480 (net pay per annum)

Durko 14:24 17 Apr 2006

Vnam

Will do. Thank you.

Durko

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