Solve.
-A diamond ring sold for $2570.40 including tax. If the tax rate where the diamond was purchased is 7.1%, Find the price of the ring befor the tax was added. (Round to the nearest cent, if necessary.)
A) $182.50
B) $2752.90
C) $2400.00
D) $2387.90

Question

Quizplus · Accepted Answer

The total cost of the diamond ring including tax is $2570.40. To find the price before tax, we divide the total cost by 1 plus the tax rate (expressed as a decimal). The tax rate is 7.1%, or 0.071 in decimal form. So, the calculation is $2570.40 / (1 + 0.071) = $2570.40 / 1.071 ≈ $2400.00.

Solve. -A Diamond Ring Sold for $2570.40 Including Tax. If the the Tax