Question

Out of the price of a product 400 euros is tax. Calculate the price of a product without tax if tax rate is 24%.

Answer 1

Let price be X. Then,

Tax = 24% of X

= 24x/100

But,

Tax = 400 euros

Now,

24x/100 = 400

X = 400 * 100 / 24

X = 1666.67 euros