Question

Miguel buys a car for $14,999. The tax rate is 6%. What is the total purchase price of the car?

Answer 1

$14,150

Explanation:

Given that

the total purchase price of the car is = p

Cost of the car, c = $14,999

Rate of tax on the car, = 6% = 0.06

To get then total purchase price of the car, we use the formula

P + 0.06p = c, so that

p + 0.06p = $14,999

(1 + 0.06) p = $14,999

1.06p = $14,999

p = $14,999 / 1.06

p = $14,150