so, does anyone know....

coyote

Well-known member
....the formula for the following problem?

i have a gross sales amount that is known

and i have a sales tax rate of 5.5%

i need to find out the net sales amount

please help

thanks
 

coyote

Well-known member
so if gross sales is $12,069.78 and n stands for net sales

then 12,069.78 = (0.055 x n) + n

what is n?

better yet, how do i figure out what it is?
 
Last edited:
so if gross sales is $12,069.78 and n stands for net sales

then 12,069.78 = (0.055 x n) + n

what is n?

better yet, how do i figure out what it is?

For starters, add the two n's together:

(0.055 x n) + n = (1.055 x n)

So you have:

12,069.78 = 1.055 x n

Divide both sides by 1.055:

11440.55 = n (rounded to the nearest penny)

So the government is stealing $629.23.
 
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