Calculate salesprice with tax and earning

Hello, how do I calculate the sales price from the following condictions.

Lets say, that I bought something for 100$, I want to resell it and earn 5$

There is a tax fee of 0.10% of the total resell price.

How do I calculate the correct resell price so that I would have earned 5$ after my tax payment?

Re: Calculate salesprice with tax and earning

Quote:

Originally Posted by

**Artdack** Hello, how do I calculate the sales price from the following condictions.

Lets say, that I bought something for 100$, I want to resell it and earn 5$

There is a tax fee of 0.10% of the total resell price.

How do I calculate the correct resell price so that I would have earned 5$ after my tax payment?

$(1 - 0.001)x = 105.00 \implies x = \dfrac{105.00}{0.999} \approx 105.11.$

$0.001 * 105.11 \approx 0.11\ and\ 105.11 - 0.11= 105.00.$

Re: Calculate salesprice with tax and earning

Quote:

Originally Posted by

**JeffM** $(1 - 0.001)x = 105.00 \implies x = \dfrac{105.00}{0.999} \approx 105.11.$

$0.001 * 105.11 \approx 0.11\ and\ 105.11 - 0.11= 105.00.$

If she resells it at 105. How much of a tax (10% of resale price) has she paid on it before netting 5

Edit

Obviously I overlooked and mistook 0.10% for 10%

Cleared now

Just curious in which State do they have a sales tax of 1/10th of 1%