SOLUTION: A woman owns a small, cash-only business in a state that requires her to charge 6% sales tax on each item she sells. At the beginning of the day, she has $200 dollars in the cash r
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: A woman owns a small, cash-only business in a state that requires her to charge 6% sales tax on each item she sells. At the beginning of the day, she has $200 dollars in the cash r
Log On
Question 896283: A woman owns a small, cash-only business in a state that requires her to charge 6% sales tax on each item she sells. At the beginning of the day, she has $200 dollars in the cash register. At the end of the day, she has $1208 in the register. How much money should she send to the state government for the sales tax she collected? Answer by Theo(13342) (Show Source):
You can put this solution on YOUR website! she starts the day with $200.
she ends the day with $1208.
she earned $1008 that day.
this includes the sales tax that she collected.
her receipts for the day include the amount of the goods plus 6% sales tax.
receipts = amount of goods sold + .06 * amount of goods sold = 1.06 * amount of goods sold.
$1008 = receipts = 1.06 * amount of goods sold.
amount of goods sold is therefore equal to $1008 / 1.06 = 950.9433962.
the sales tax on 950.9433962 was .06 * 950.9433962 which is equal to 57.05660377.
add up 950.9433962 and 57.05660377 and you get 1008, as you should.
she collected 57.05660377 in sales tax on the amount of goods she sold for the day.
round that off to the nearest penny and she should send $57.06 to the state government for the amount of goods she sold that day.
