The sales tax on the purchase of a futon is $24.45. If the tax rate is 5%, find the purchase price of the futon
2 answers:
Answer:
The purchase price of the futon is $23.2275.
Step-by-step explanation:
The sales price is how much you sold the product for, including the taxes, which is 5%.
The purchase price is how much you bought the futon for, that is, without the taxes.
The tax rate is 5% and you sell the futon for $24.45. So you paid for the futon 95% of 24.45.
So
24.45 - 1
x - 0.95
The purchase price of the futon is $23.2275.
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Answer:
Step-by-step explanation:
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