Solve the problem.
-Midtown Antiques collects 5% sales tax on all sales. If total sales including tax are $1,448.11, find the portion that is the tax amount. Round to the nearest cent.

Question

Quizplus · Accepted Answer

Let's start by representing the total sales amount as "x".

Since the tax rate is 5%, we know that the tax amount is 5% of the total sales, or 0.05x.

We also know that the total sales including tax are $1,448.11, so we can set up the following equation:

x + 0.05x = 1448.11

Simplifying this equation, we get:

1.05x = 1448.11

Dividing both sides by 1.05, we get:

x = 1380.15

So the portion of the total sales that is the tax amount is:

0.05x = 0.05(1380.15) = $68.96

Therefore, the best choice is C.

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