Calculating Taxes

[S3 Maths / Principle of Accounts: Taxes]

The title is fairly self-explanatory, presenter Matt Parker walks through the mathematics behind calculating the income tax.

It's interesting that a lot of the formulae we use, and tend to use, are actually transformed versions of intuitive mathematics to make things much easier for ourselves. It's important to know the transformation process, though, and not blindly accept "Ah, this is the formula mentioned in the book, it must be correct, and it's not prone to being wrong in any capacity." It's only when we think creatively that we can open our insight towards how mathematics relates to the everyday, and how important it is in many aspects of our lives.