Solve.
-Midtown Antiques collects 5% sales tax on all sales. If total sales including tax are $1808.58, find the portion that is the tax. Round your answer to the nearest cent.

Question

Quizplus · Accepted Answer

Let the portion that is the tax be x.
Then we have: 
Total sales including tax = sales price + tax
$1808.58 = sales price + 0.05(sales price)
$1808.58 = 1.05(sales price)
sales price = $1722.46
So the tax is:
x = total sales including tax - sales price
x = $1808.58 - $1722.46
x = $86.12
Therefore, the answer is B) $86.12. Let's assume that the portion of the sales before tax is x.
Then, the tax collected would be 5% of x, which is 0.05x.
So, we have:
x + 0.05x = 1808.58 (total sales including tax)
Simplifying this:
1.05x = 1808.58
x = 1722.46
So, the portion that is the tax is:
0.05x = 0.05(1722.46) = $86.12 (rounded to the nearest cent)
Therefore, the answer is B.

Solve. -Midtown Antiques Collects 5% Sales Tax on All Sales. If