The phrase "amount was based on" is correct and usable in written English.
It can be used when explaining the foundation or criteria for a specific quantity or figure, often in financial or analytical contexts.
Example: "The total amount was based on the projected sales figures from the previous quarter."
Alternatives: "sum was determined by" or "total was calculated from".
The amount was based on the amount of shares owned.
That amount was based on his pay at the time of his conviction, without being adjusted for interest or inflation.
The amount was based on a complex formula tied to their income, ranging from a minimum of $5,000 for retired partners to $3.5 million for Dewey's highest-paid partners.
The amount was based on a complex formula tied to their compensation, ranging from a minimum of $5,000 for retired partners to $3.5 million for the firm's highest-paid lawyers.
He said the amount was based on an estimate of where Mr. Drake had asked to be driven, that he specifically had told the driver not to give Mr. Drake any money and that he had obtained a receipt for the expense.
Mr. Lewis said New York's average closing costs still led the nation last year, at $3,867, but that amount was based on settlements in New York City, whereas this year's estimates were based on mortgages closed in Buffalo, where the average mortgage amount is far less and where mortgage taxes are lower.
The amount is based on a formula in Mr. Katz's contract.
The total loan amount is based on the property's appraised value once the repairs are completed.
This amount is based on a budget prepared by the interior design firm and is not an actual bid proposal for labor and materials.
The actual amount is based on a formula that takes into account each district's wealth, the number of students receiving free and reduced-price lunches, and the portion of the district budget already covered by local taxes.
The actual required amount is based on the results of the estimation.
