120.42 minus 7% tax (net)
112.55
120.42 ÷ (1 + 7%) = 120.42 ÷ 1.07 = 112.55
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Removing 7% tax from 120.42 gives a net price of 112.55. The tax portion is 7.88.
| Gross amount | 120.42 |
| Tax (7%) | 7.88 |
| Net (gross − tax) | 112.55 |
Frequently asked questions
- Remove 7% tax from 120.42? Removing 7% tax from 120.42 gives a net price of 112.55. The tax portion is 7.88.
- What is the formula? 120.42 ÷ (1 + 7%) = 120.42 ÷ 1.07 = 112.55