SOLUTION: I am in the restaurant industry, and am trying to fing the correct formula to solve this question. If i could only spend $28. per person and i want tax and tip (totaling 27.75%) t

Question 11458: I am in the restaurant industry, and am trying to fing the correct formula to solve this question.
If i could only spend $28. per person and i want tax and tip (totaling 27.75%) to be inclusive in this price, how much would my food total be and how much would my tax and tip be? (I can only spend $28.00 including tax and tip)
I know the answer is $21.92 for food and $6.08 for tax and tip.
What is the formula so i can figure out other denominations?
Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Here's the way you work this out. Change the tax & tip percentage to a decimal. (27.75% = 0.2775)
You know that the cost of the food (F) plus 27.75% of the cost of the food (tax & tip = 0.2775F) adds up to the total bill of $28.00. This can be written as:
Simplify.
Divide both sides by 1.2775
round this up to $21.92 Cost of the food.
So a shortcut would be: Cost of food = the total bill divided by (1 + tax & tip) (as a decimal)
Now subtract the cost of the food (F = $21.92) from the total bill ($28.00) and you get the tax & tip amount.
Tax & tip = $6.08.
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