Solve the problem.
-Inclusive of a 6.3% sales tax, a diamond ring sold for $1700.80. Find the price of the ring before the tax was added. (Round to the nearest cent, if necessary.)

Question

Quizplus · Accepted Answer

The total cost of the ring including the sales tax is $1700.80. To find the price before the tax, divide the total cost by 1 plus the tax rate (expressed as a decimal). The tax rate is 6.3%, or 0.063 as a decimal. So, the price before tax is $1700.80 / (1 + 0.063) = $1700.80 / 1.063 ≈ $1600.

Solve the Problem. -Inclusive of a 6.3% Sales Tax, a Diamond Ring Sold