Reverse Calculate the Price Without 6.8% Sales Tax Rate Out of US $26.91 (USD, US Dollar) Price With Tax Included. Find the Price Before Tax and the Amount of the Deducted Sales Tax. Answer, Formula and Explanation
Reverse Calculate the Price Without 6.8% Sales Tax Rate Out of US $26.91 (USD, US Dollar) Price With Tax Included. Detailed answer:
1. Rewrite 'Price with Sales Tax'.
Replace the 'Amount of Sales Tax' in the ecuation of 'Price with Sales Tax':
Formula:
Amount of Sales Tax =
Sales Tax Rate × Price without Sales Tax;
Formula:
Price with Sales Tax =
Price without Sales Tax + Amount of Sales Tax =
Price without Sales Tax + (Sales Tax Rate × Price without Sales Tax) =
Price without Sales Tax × (1 + Sales Tax Rate)
2. Calculate the 'Price without Sales Tax':
Formula:
Price with Sales Tax =
Price without Sales Tax × (1 + Sales Tax Rate)
⇒
Formula:
Price without Sales Tax =
Price with Sales Tax ÷ (1 + Sales Tax Rate)
Calculation:
Price without Sales Tax =
26.91 ÷ (1 + 6.8%) =
26.91 ÷ (1 + 6.8/100) =
26.91 ÷ (1 + 6.8 ÷ 100) =
26.91 ÷ (1 + 0.068) =
26.91 ÷ 1.068 ≈
25.196629213483 ≈
(Rounded off to a maximum of 2 decimals)
25.2
3. Calculate the 'Amount of the Sales Tax':
Formula:
Amount of Sales Tax =
Price with Sales Tax - Price without Sales Tax
Calculation: Amount of Sales Tax =
26.91 - 25.196629213483 =
1.713370786517 ≈
(Rounded off to a maximum of 2 decimals)
1.71
Price without Sales Tax ≈ US $25.2 (USD, US Dollars)
Amount of Sales Tax ≈ US $1.71 (USD, US Dollars)
Signs: % percent, ÷ divide, × multiply, = equal, / fraction bar, ≈ approximately equal.
Writing numbers: comma ',' as thousands separator; point '.' as a decimal mark.
More Operations of Reverse Calculating the Price Without Sales Tax:
Reverse Calculate the Sales Tax, Calculate the Amount of Contained Tax
Price without the Sales Tax = Price with the Sales Tax ÷ (1 + Sales Tax Rate %)