71.99 minus 20% tax (net)
60
71.99 ÷ (1 + 20%) = 71.99 ÷ 1.2 = 60
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Removing 20% tax from 71.99 gives a net price of 60. The tax portion is 12.
| Gross amount | 71.99 |
| Tax (20%) | 12 |
| Net (gross − tax) | 60 |
Frequently asked questions
- Remove 20% tax from 71.99? Removing 20% tax from 71.99 gives a net price of 60. The tax portion is 12.
- What is the formula? 71.99 ÷ (1 + 20%) = 71.99 ÷ 1.2 = 60