tax rate?

[saturnstroll]

Hi, I'm trying to determine my tax rate for a product.
I sell tshirts for $20 each, tax included. Now I'm doing my books and need to enter the exact tshirt price. So.... here is my formula, but apparently it's flawed. Can you help?

terms:
x = price of shirt
y = tax rate

formula:
x (y) + x = $20
.
.
.
x (.0825) + x = $20
.
.
.
x (.0825) + x = $20
__________ ____
(.0825) (.0825)
.
.
.
x + x = 242.42 ???? what?

 

[tkhunny]

One must remember one's algebra.

x + 0.0825x = 1.0825x = 20.00

x = 20.00/1.0825 = 18.47575

Check

18.47575 * 0.0825 = 1.52425

1.52425 + 18.47575 = 20.00000

 

[saturnstroll]

got it! thanks so much.