The sales tax in the town where Amanda lives is 7%. Amanda paid $35 in sales tax on a new stereo what was the price of the stereo
0.07x = 35
x = ?
To find the price of the stereo, we can use the following formula:
Price of Stereo = Total Amount / (1 + Tax Rate)
In this case, the total amount Amanda paid, which includes the price of the stereo and the sales tax, is $35. The tax rate is given as 7%, which can be converted to its decimal form by dividing by 100. Therefore, the tax rate is 0.07.
Using the formula, we can substitute the values and solve for the price of the stereo:
Price of Stereo = $35 / (1 + 0.07)
Price of Stereo = $35 / 1.07
Calculating this expression, we find that the price of the stereo is approximately $32.71.