Question

Stellar electronics is selling products in a foreign country that charges a 10% tariff on shipments was $120,000, what was the value of the shipment

Answer 1

[AI-generated answer — Bot GPT 3.5]

To calculate the value of the shipment, we need to find the cost before the tariff was applied.

Let's let x be the value of the shipment before the tariff.

Since the country charges a 10% tariff, the cost of the shipment after the tariff is 100% + 10% = 110% of x.

This means that 1.1 * x = $120,000.

To solve for x, we can divide both sides of the equation by 1.1:

x = $120,000 / 1.1 = $109,090.91.

Therefore, the value of the shipment before the tariff was applied was approximately $109,090.91.