The sales tax rate in Ohio is 7.25%. What is the original price of an item that costs $172.00 including sales tax?

Answer 1

Let's assume the original price of the item is P.

The sales tax rate is 7.25%, which can be expressed as 0.0725 as a decimal.

The added sales tax to the original price is calculated as 0.0725 * P.

Therefore, the total amount paid, including sales tax, is P + 0.0725 * P = 1.0725 * P.

We are given that the total amount paid, including sales tax, is $172.00.

So, we can set up the equation 1.0725 * P = $172.00 and solve for P.

Dividing both sides of the equation by 1.0725, we get P = $172.00 / 1.0725.

P ≈ $160.

Therefore, the original price of the item is approximately $160.