Midtown Antiques collects 2% sales tax on all sales. If total sales including tax are $1161.87 find the portion that is the tax amount.

t = 1161.87 - (1161.87 / 1.02)

let x = original cost

1.02x = 1161.87

Calculate x, subtract from 1161.87.

To find the tax amount, we need to calculate 2% of the total sales amount.

Step 1: Convert the tax rate to a decimal. Divide it by 100.
2% = 2/100 = 0.02

Step 2: Multiply the total sales amount by the tax rate.
Tax amount = $1161.87 * 0.02 = $23.24

Therefore, the tax amount is $23.24.

To find the tax amount, we first need to determine the total sales amount without tax. Since Midtown Antiques collects 2% tax on all sales, the remaining 98% represents the sales price without tax.

We can set up the following equation to find the sales price without tax:

Sales price without tax + 2% tax = Total sales price

Let's assume the sales price without tax is "x". Therefore, the equation becomes:

x + 0.02x = 1161.87

Combining like terms:

1.02x = 1161.87

Divide both sides of the equation by 1.02 to isolate "x":

x = 1161.87 / 1.02

Simplifying:

x ≈ 1139.77

The sales price without tax is approximately $1139.77.

To find the tax amount, we can subtract the sales price without tax from the total sales price:

Tax amount = Total sales price - Sales price without tax
= $1161.87 - $1139.77
= $22.1

Therefore, the portion that is the tax amount is $22.1