You paid $26696.5 for a new car. This includes the 7% sales tax. What was the original cost of the car?
1.07x = 26696.5
x = 24,950
How did u get 1.07x
1.07 includes the original price and the tax.
How do u find that
1 + 0.07 = 1.07
Where did u get 1 from
To find the original cost of the car, we need to subtract the sales tax from the total amount paid.
Step 1: Calculate the sales tax amount.
The total cost of the car includes a 7% sales tax, which means the tax is 7% of the original cost of the car.
Sales Tax = 7% of Original Cost of the Car
Step 2: Calculate the original cost of the car.
The total amount paid is the sum of the original cost of the car and the sales tax.
Total Amount Paid = Original Cost of the Car + Sales Tax
We have the total amount paid ($26,696.5) and the sales tax (7% of the original cost of the car). Using these values, we can now calculate the original cost of the car.
Original Cost of the Car = Total Amount Paid - Sales Tax
Let's substitute the values into the equation and solve for the original cost of the car:
Original Cost of the Car = $26,696.5 - (7% * Original Cost of the Car)
To simplify the equation, let's convert 7% to decimal form by dividing by 100:
Original Cost of the Car = $26,696.5 - (0.07 * Original Cost of the Car)
Now, let's solve the equation:
Original Cost of the Car - 0.07 * Original Cost of the Car = $26,696.5
Combining like terms:
0.93 * Original Cost of the Car = $26,696.5
Finally, divide both sides of the equation by 0.93 to solve for the original cost of the car:
Original Cost of the Car = $26,696.5 / 0.93
Using a calculator, the original cost of the car is approximately $28,763.44.