Question

Meg has saved up $350 to purchase a new TV from the local store. The sales tax in her county is 5% of the sticker price. Write an equation and solve it to determine the value of the highest priced TV Meg can purchase with her $350, including the sales tax. Round your answer to the nearest penny.

Answer 1

For this case we have:

Let p be the highest price of the TV that Meg can buy

We have to:

5% of p is given by:

$0.05p$

So, we have:

$p + 0.05p = 350$

Clearing p we have:

$1.05p = 350$

$p=\frac{350}{1.05}\\p=333.33$

Thus, the highest price of the television that Meg purchases should be $p = 333.33$dollars.

Answer:

$p + 0.05p = 350\\p = 333.33$