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Question 1152975: Find marked price and sales tax. Round to nearest cent.
Total sale: 74.11
Sales Tax Rate: 6%
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! x = sale price
1.06 * x = 74.11
solve for x to get:
x = 74.11 / 1.06 = 69.92 rounded to the nearest penny.
that's the sale price.
69.92 sale price * 1.06 tax rate = 74.12 rounded to the nearest penny.
the discrepancy is in the intermediate rounding.
based on these figures, the sale price is really 69.91509434.
if you work off that number then the total price is 69.91509434 * 1.06 = 74.11.
if you have to round to the nearest penny, then the answer needs to be 69.92.
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