SOLUTION: Because of a delay in service, the store manager agrees to sell a used washing machine for $300. This includes the delivery charge ($21.95) and 7% sales tax; no tax is paid on the

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Because of a delay in service, the store manager agrees to sell a used washing machine for $300. This includes the delivery charge ($21.95) and 7% sales tax; no tax is paid on the       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


   



Question 909297: Because of a delay in service, the store manager agrees to sell a used washing machine for $300. This includes the delivery charge ($21.95) and 7% sales tax; no tax is paid on the delivery charge. How much should he record as the purchase price? (Round your answer to the nearest cent.)
Answer by JulietG(1812) About Me  (Show Source):
You can put this solution on YOUR website!
300 - 21.95 = 278.05
278.05 = 1.07x
Divide each side by 1.07
278.05%2F1.07= $259.86

Check:
$259.86 * .07 = $18.19, the tax
259.86 + 18.19 = $278.05
278.05 + delivery of 21.95 = $300.00