{"id":23386,"date":"2017-09-06T18:49:08","date_gmt":"2017-09-06T18:49:08","guid":{"rendered":"http:\/\/www.oracletutoring.ca\/blog\/?p=23386"},"modified":"2017-09-06T18:49:08","modified_gmt":"2017-09-06T18:49:08","slug":"math-what-discount-will-exactly-cancel-the-tax","status":"publish","type":"post","link":"https:\/\/www.oracletutoring.ca\/blog\/math-what-discount-will-exactly-cancel-the-tax\/","title":{"rendered":"Math: what discount will exactly cancel the tax?"},"content":{"rendered":"<h1>Tutoring high school math, you see financial word problems. The tutor gives an example.<\/h1>\n<p>Problem: At 12% tax, what discount will lead to paying exactly the sticker price after tax?<\/p>\n<p><strong>Solution<\/strong><\/p>\n<p>The final price, f, is as follows:<\/p>\n<p>f = (1-discount)(1+tax)p<\/p>\n<p>Where p is original price, and discount and tax are in decimals, not percent (eg, tax is 0.12 rather than 12%)<\/p>\n<p>We need f=p, at tax=0.12:<\/p>\n<p>p=(1-discount)(1+0.12)p<\/p>\n<p>Dividing both sides by p we get<\/p>\n<p>1=(1-discount)(1.12)<\/p>\n<p>Then, dividing by 1.12,<\/p>\n<p>0.8929 = 1-discount<\/p>\n<p>Rearranging we get<\/p>\n<p>discount = 1-0.8929 = 0.1071 or 10.71%.<\/p>\n<p>Apparently, at 12% tax, a discount of 10.71% is needed to equate the after-tax price to the sticker price.<\/p>\n<p>Cheers.<\/p>\n<p>Jack of <a href=\"https:\/\/www.oracletutoring.ca\">Oracle Tutoring by Jack and Diane,<\/a> Campbell River, BC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tutoring high school math, you see financial word problems. The tutor gives an example. Problem: At 12% tax, what discount will lead to paying exactly the sticker price after tax? Solution The final price, f, is as follows: f = &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"more-link\" href=\"https:\/\/www.oracletutoring.ca\/blog\/math-what-discount-will-exactly-cancel-the-tax\/\"> <span class=\"screen-reader-text\">Math: what discount will exactly cancel the tax?<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2014,181,3],"tags":[2481],"class_list":["post-23386","post","type-post","status-publish","format-standard","hentry","category-financial-math","category-lifestyle","category-math","tag-what-discount-will-cancel-out-the-tax"],"_links":{"self":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/23386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/comments?post=23386"}],"version-history":[{"count":24,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/23386\/revisions"}],"predecessor-version":[{"id":23410,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/23386\/revisions\/23410"}],"wp:attachment":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/media?parent=23386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/categories?post=23386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/tags?post=23386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}