We can write the equation as:
0.07b = 4.90 + b
This equation represents the fact that the tip ($4.90) is equal to 7% of the cost of the haircut (0.07b), added to the cost of the haircut itself (b). To solve for b, we can simplify and rearrange the equation:
0.07b - b = 4.90
-0.93b = 4.90
b = 4.90 / (-0.93)
b ≈ -5.27
Since the cost of a haircut cannot be negative, we need to reject this negative solution. Therefore, there must be an error in the equation $92$92 that was given in the question prompt. The correct equation to find b, the cost of the haircut, would be:
b + 0.07b = cost of haircut + tip
1.07b = cost of haircut + 4.90
where 0.07b represents the tip, and 1.07b represents the total cost of the haircut and tip. We cannot solve for b without knowing the total cost of the haircut and tip.