what is the value of x in 780=x+15x

Question

want to find out the amount of VAT in 780.00, VAT %tage is 15

Answer 1

If an item is worth x (dollars, pounds, euros, etc) then VAT is charged at a rate of r%.

The price, p, you pay for the item is x+rx/100=x(1+r/100).

In this question p=780 and r=15, so we can find x and therefore we can find the VAT component.

1.15x=780, x=780/1.15=678.26, the price before VAT is added.

15% of 678.26 must be 780-678.26=101.74 (rounding up);

or we can simply work out 15% of 678.26=0.15×678.26=101.74 approx. after rounding up.