Question

Every item in the Just a Dollar store is priced $ 1.00 . When Jack opens the store, there is $ 100.00 in the cash register. When he counts the money in the cash register at the end of the day, the total is $ 667.10 . If the sales tax rate is 7 % , how many items were sold that day?

Answer 1

Step-by-step explanation:

The price of the item = $ 1.00

total revenue of the day = $ 667.10 - $ 100 ( where $ 100 is the initial amount present from the beginning) = $ 567.1

sales tax = 7 % = 0.07

let number of items sold = n, total amount sold that day = $ 1 n

total tax = 0.07 n

$ 567.1 = n + 0.07 n

n = $ 567.1 / (1.07) = 530 items

Answer 2

530

Step-by-step explanation:

Total sales $667.1

Opening Balance ($100)

Sales during the day including sales tax $567.1

Taking out impact of sales tax=$567.1/1.07=$530/1=530 units were sold out during the day