Identify the base in the following application:
The sales tax rate in a state is 7.5%. If you pay a tax of $8.00 on an item that you purchase, what is its selling price?
tax=sellingprice(.075)
so
8.00/.075=selling price
so my answer is $106.67 correct
correct.
To identify the base in this application, we need to determine what the sales tax is applied to. In this case, the base refers to the selling price of the item.
To find the selling price, we'll use the information provided: the tax rate and the tax amount.
Step 1: Convert the tax rate from a percentage to a decimal. We divide the tax rate of 7.5% by 100 to get 0.075.
Step 2: Use the formula: Tax Amount = Selling Price * Tax Rate
We can substitute the given tax amount of $8.00 and the tax rate of 0.075 into the formula:
$8.00 = Selling Price * 0.075
Step 3: Solve for the selling price by dividing both sides of the equation by 0.075:
Selling Price = $8.00 รท 0.075
Selling Price = $106.67
Therefore, the selling price of the item is $106.67.