Question

A student group must charge 6% tax for the t-shirts they want to sell,but for conscience, they want the customers to pay an even $15 per shirt. What price must be marked on the shirt so that the $15 includes the tax? Please help me figure this out!

Answer 1

marked price of shirt $X = $14.15

Explanation:

Let the marked price of shirt be $X

Given tax is 6% = 6/100 = 0.06

Therefore dollar value of tax = 6% of $X = 0.06X

Total price of shirt after inclusion of tax is $15

sum of marked price i.e $X + tax i.e 0.06X should be $15

Mathematically

$X + $0.06X = $15

=> $1.06X = $15

=> X = 15/1.06 = 14.1509

=> X = 14.15

Therefore marked price of shirt $X = $14.15.