Inclusive of a 6.4% tax, a diamond ring sold for $2128.00. Find the price of the ring before the tax was added.
calculus? more like algebra I. anyway, if the original price is P,
1.064P = 2128.00
P = 2000
To find the price of the ring before the tax was added, we need to subtract the tax amount from the total price after tax. The tax rate is 6.4%, which means that the tax amount is 6.4% of the original price of the ring.
Let's calculate the tax amount first:
Tax Amount = 6.4% of the Original Price
= (6.4/100) * Original Price
Now, we can express the total price after tax as the sum of the original price and the tax amount:
Total Price after Tax = Original Price + Tax Amount
We know that the Total Price after Tax is $2128.00. Let's substitute the known values into the equation:
$2128.00 = Original Price + (6.4/100) * Original Price
Now, we can simplify the equation and solve for the Original Price:
$2128.00 = Original Price * (1 + 6.4/100)
$2128.00 = Original Price * (1 + 0.064)
To isolate the Original Price, divide both sides of the equation by (1 + 0.064):
Original Price = $2128.00 / (1 + 0.064)
Now, we can calculate the Original Price:
Original Price = $2128.00 / 1.064
Original Price ≈ $2000.00
So, the price of the ring before the tax was added is approximately $2000.00.