document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=803156>Question 803156</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I can't figure out the formula for the question: a painting is sold for $100 total. At 7.25% tax what does the seller now owe the state? The answer isn't $7.25 either.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #484165 by </B><A HREF=/tutors/aboutme.mpl?userid=KMST><B>KMST(5328)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=KMST><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=KMST><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=484165\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> They probably mean that the buyer pays $100 including the 7.24% tax.<BR>\n" );
document.write( "That would mean that the buyer pays 107.25% of the price of the painting,<BR>\n" );
document.write( "with the seller getting 100% of the price of the painting,<BR>\n" );
document.write( "and the state getting 7.25% of the price of the painting.<BR>\n" );
document.write( " <BR>\n" );
document.write( "7.25% as a ratio and as a decimal is <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=7.25%2F100=0.0725 ALIGN=MIDDLE  ALT=\"7.25%2F100=0.0725\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "107.25% as a ratio and as a decimal is <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=107.25%2F100=1.0725 ALIGN=MIDDLE  ALT=\"107.25%2F100=1.0725\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "The price times <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.0725 ALIGN=MIDDLE  ALT=\"1.0725\"   DISABLED_style= \"max-width:90%; height:auto;\" > is the total that the buyer paid<BR>\n" );
document.write( "The price was<BR>\n" );
document.write( "$100 ÷ 1.0725 = $93.24,<BR>\n" );
document.write( "and that is what the seller gets.<BR>\n" );
document.write( "The state gets the remaining <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight%28%22%246.76%22%29 ALIGN=MIDDLE  ALT=\"highlight%28%22%246.76%22%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "( $100 - $93.24 = $6.76 ),<BR>\n" );
document.write( "which is 7.25% of $93.24.<BR>\n" );
document.write( " <BR>\n" );
document.write( "We can verify by calculating 7.25% of $93.24<BR>\n" );
document.write( "$93.24 times 0.0725 = $6.76<BR>\n" );
document.write( " <BR>\n" );
document.write( "NOTES:<BR>\n" );
document.write( "I get $6.76 after rounding the 6.7599 result,<BR>\n" );
document.write( "but I also had to round the result of 100 ÷ 1.0725,<BR>\n" );
document.write( "which was 93.24009324009324009324009234........<BR>\n" );
document.write( "It was very clever of the seller to calculate the price as $93.24,<BR>\n" );
document.write( "so that the total payment, with tax, would add up to an even $100.<BR>\n" );
document.write( "That even $100 is very convenient for the buyer,<BR>\n" );
document.write( "who probably does not know even know that the seller does not get to keep the whole $100. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );