A bank loaned out $33,500, part of it at the rate of 12% annual interest, and the rest at 14% annual interest. The total interes
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The $315 cost of the couch after tax, gives the cost before tax, <em>C</em>, as the following equation;
The cost of the couch with tax = $315
Let, <em>t</em>, represent the tax rate, and let <em>C</em>, represent the cost before tax, we have;
315 = C + C × t
- 315 = C × (1 + t)
Which gives;
- The cost of the couch before tax, <em>C </em>= 315/(1 + t)
Mathematically, we have the following equation;
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