# Calculate salesprice with tax and earning

• May 19th 2014, 11:03 PM
Artdack
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?
• May 19th 2014, 11:15 PM
JeffM
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.\$
• May 20th 2014, 12:43 AM
AbrahamA
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%