How do you work out what the original value was if you only know the final figure and a percentage?

For example: working out the original pre vat value when you only know the percentage and final figure?

Perhaps an example would help. Let the original price be £1. Let the VAT be 20%. You pay 120%. (That's 100% of the price + 20% of the price.) So you pay £1.20. So Final Price = (100% + rate%) x original price. To get the original price you divide the Final price by (in this example) 1.2 Try a few examples yourself, the pattern will emerge.
20 December 2011
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