How do you figure out the sales tax when it is included in the sales price?
Example: Sales Price with sales tax included is .95 and the sales tax is 5%.
How do you figure out the sales tax when it is included in the sales price?
Example: Sales Price with sales tax included is .95 and the sales tax is 5%.
good question
x * 1.05 = 98.95
solve for x:
x = 98.95/1.05
Sales Price = Purchase price * 1.05
Purchase Price = Sales Price / 1.05
Simple Algebra
Depending on the sales tax in your area, say it’s 6%. The cost of any item taxed, would be 106% of the sticker price, right? Devide the total cost of any item you buy that includes the tax by 106 then multiply that by 100. So something that totaled $106.00 would sticker at 100 x 1 or $100.00.