A state sales tax rate is 4.8%. If the tax on a purchase was $23.76, what was the price of the purchase?

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A state sales tax rate is 4.8%. If the tax on a purchase was $23.76, what was the price of the purchase?

2006-12-16 02:23:59 · 4 answers · asked by Nicole S 1 in Business & Finance ➔ Taxes ➔ United States

4 answers

$22.62

$23.76 - $1.14

2006-12-16 02:32:18 · answer #1 · answered by mogwai_b4_midnite 4 · 0⤊ 0⤋

The equation for this is:

Amount of Tax/Tax Rate * 100 = Amount of purchase

(23.76/4.8) * 100 = 495.00

If you want to check the work:

Amount of purchase * Tax rate = Tax due

495.00 * .048 = 23.76

.048 = 48/100 or 4.8 %

2006-12-16 10:38:04 · answer #2 · answered by Magic One 6 · 0⤊ 0⤋

23.76/1.048=22.67
check
22.67*4.048=23.76

22.67

sorry misread the question - purchase price was $495

2006-12-16 10:29:18 · answer #3 · answered by Anonymous · 0⤊ 0⤋

$782.11

2006-12-16 10:26:26 · answer #4 · answered by Joe K 6 · 1⤊ 1⤋