Enter the net price and tax rate into the calculator to determine the full price of an item including tax. This calculator helps you understand the total cost of a purchase.
Full Price Formula
The following formula is used to calculate the full price of an item including tax.
FP = NP * (1 + TR/100)
Variables:
- FP is the full price including tax
- NP is the net price of the item
- TR is the tax rate (%)
To calculate the full price, multiply the net price by one plus the tax rate divided by 100.
What is Full Price?
Full price is the total cost of an item after adding the sales tax to the net price. It represents the actual amount a customer pays for a product or service. Knowing the full price is essential for budgeting and financial planning, as it includes all additional costs associated with the purchase.
How to Calculate Full Price?
The following steps outline how to calculate the Full Price.
- First, determine the net price of the item (NP) in dollars.
- Next, determine the tax rate (TR) as a percentage.
- Next, gather the formula from above = FP = NP * (1 + TR/100).
- Finally, calculate the Full Price (FP) in dollars.
- After inserting the variables and calculating the result, check your answer with the calculator above.
Example Problem :
Use the following variables as an example problem to test your knowledge.
Net price of the item (NP) = $50.00
Tax rate (TR) = 8%
