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Wayne Brasch
Wayne Brasch, Accountant and Business Consultant
Category: Tax
Satisfied Customers: 1298
Experience:  Master of Science in Taxation. Tax experience since 1963.
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how do i take away a certain percent of a number

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Submitted: 10 years ago.
Category: Tax
Expert:  Wayne Brasch replied 10 years ago.
If, for example, you wanted to know what you would have to pay if someone told you that you are entitled to a discount of 5% if you buy $1,000 worth of merchandise from their store, you could multiply that $1,000 by 95% (.95) to get the amount you would be required to pay which would be $950. Basically what you are doing is saying you only have to pay 95% of the 100%. The 100% in this example would be the $1,000.

You could do this the long way, also, by taking $1,000 times 5% (.05) and getting $50. Subtract that from $1,000 to get $950. As you can see, both ways gets the same results.