You are charged $16.05 for a meal. Assume sales tax is 7%, what was the menu price for the meal?
0.93x = 16.05
Nope.
1.07x = 16.05
the 16.05 includes the tax, right?
To find the menu price for the meal, we need to first calculate the total cost of the meal including the sales tax.
Let's represent the menu price as "x".
Sales tax is calculated as a percentage of the menu price. In this case, it is 7% or 0.07.
We can set up the equation:
x + (0.07 * x) = $16.05
Simplifying the equation:
1.07x = $16.05
Next, we solve for x by dividing both sides of the equation by 1.07:
x = $16.05 / 1.07
Evaluating the expression on the right:
x ≈ $15
Therefore, the menu price for the meal was approximately $15.
To find the menu price for the meal, we can use the formula:
Menu Price = Total Price / (1 + Sales Tax Rate)
In this case, the total price of the meal is $16.05 and the sales tax rate is 7% (or 0.07). Plugging these values into the formula, we get:
Menu Price = $16.05 / (1 + 0.07)
Now, let's calculate it step by step:
1. Add 1 and the sales tax rate:
1 + 0.07 = 1.07
2. Divide the total price by the result from step 1:
$16.05 / 1.07 ≈ $15
Therefore, the menu price for the meal was approximately $15.