SOLUTION: The Smiths have saved $25,000 toward the purchase of a new car. If the sales tax is 5%, the purchase of the Smiths' new car before taxes cannot exceed what?
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-> SOLUTION: The Smiths have saved $25,000 toward the purchase of a new car. If the sales tax is 5%, the purchase of the Smiths' new car before taxes cannot exceed what?
I know the equation
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Question 1209250: The Smiths have saved $25,000 toward the purchase of a new car. If the sales tax is 5%, the purchase of the Smiths' new car before taxes cannot exceed what?
I know the equation is 1.05p< 25,000. What I do not understand is why is the amount 1.05 and not just 0.05 for the 5%. Found 2 solutions by ikleyn, math_tutor2020:Answer by ikleyn(52814) (Show Source):
"p" is the price of the car before tax.
The 5% tax adds 0.05p to the total cost.
So, the total cost is p + 0.05p = (1+0.05)p = 1.05p.
To find "p", you should use this equation
1.05p = 25000,
which gives you the solution for the affordable car price before the tax
p = = 23810 dollars.
Solved, with explanations. As clear as 1 + 2 = 3. It couldn't be clearer.
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