Item Value= x
excise = x*12.5%
Taxable Value = x+excise
VAT = Taxable Value*12.5%
Surcharge = VAT*5%
Total Value = Taxable Value + VAT + Surcharge
If the total Value is = 12726.5625
Then find then Value of X
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Caclulate basic value of a excise invoice
Replies (4)
Value of X = 10000
x=10000 is the right answer but can anyone solve the equation and arrive at this 10000 please
12726.5625 = (X+0.125X)+0.125(X+0.125X)+0.05(0.125*(X+0.125X))
12726.5625=1.125X+0.140625X+0.00703125X
12726.5625=1.27265625X
X=10000
lets assume taxable x
[x*112.5%*(112.5+12.5*5%)]=12726.5625*100
112.5%*113.125%*X=12,72,656.25
X=10,000 i.e. Taxable value=10,000
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