Question

A man realizes he lost the detailed receipt from the store and only has the credit card receipt with the after-tax total. If the after-tax total was $236.72, and the tax rate in the area is 7.6%, what was the pre tax subtotal?

Answer 1

Let's call x to the pre-tax subtotal

Then, the amount of money he pays in taxes is: 0.076x

Therefore, the total cost is: x + 0.076x, which is equal to $236.72. That is:

x + 0.076x = 236.72

1.076x = 236.72

x = 236.72/1.076

x = 220

The pre-tax subtotal was $220