problemsolver
New member
- Joined
- Sep 26, 2012
- Messages
- 1
I have a gross sum which in this example is 350.00 which is inclusive of a base premium, tax and fee.
The tax is calculated as 6% of a base premium and the fee is calculated as 2% of base premium plus tax.
The gross sum is then the sum of the above.
How to I arrive at the base premium by only knowing the gross sum and tax percentage and fee percentage?
In the above example it works out to be :
Base Premium Tax Fee Gross Sum
323.71 19.42 6.87 350.00
((323.71 + 19.42) + 6.87) = 350.00
The tax is calculated as 6% of a base premium and the fee is calculated as 2% of base premium plus tax.
The gross sum is then the sum of the above.
How to I arrive at the base premium by only knowing the gross sum and tax percentage and fee percentage?
In the above example it works out to be :
Base Premium Tax Fee Gross Sum
323.71 19.42 6.87 350.00
((323.71 + 19.42) + 6.87) = 350.00