you have exactly $50.00 to spend on taxable groceries. they charge 4.3% sales tax on food. What is the most you can spend on food, pre-tax?
50 / (1 + .043)
To determine the maximum amount you can spend on food, pre-tax, you need to account for the sales tax. Here's how you can calculate it:
1. Convert the sales tax rate from a percentage to a decimal by dividing it by 100: 4.3% = 4.3 / 100 = 0.043.
2. Subtract the sales tax rate from 1. This will give you the portion of the total amount that is pre-tax: 1 - 0.043 = 0.957.
3. Divide your available budget by the pre-tax portion to find the maximum amount you can spend on food: $50 / 0.957 = $52.17 (rounded to two decimal places).
Therefore, the maximum amount you can spend on food, pre-tax, with a $50 budget after accounting for 4.3% sales tax, is approximately $52.17.