Official Explanation
Both invoices are about 1.9% higher than the price of the goods:
\(\frac{($1106.50-$1086)}{$1086}= \frac{($706.08-$693)}{$693} = 0.01887.\)
This suggests that the tax rate is higher than the discount rate and that the difference between the rates will be in the neighborhood of 2%. This estimate makes a systematic trial and error possible. Trying a 3% discount and 5% tax comes close but is a bit low. A discount of 5% and a tax rate of 7.25% fits the bill.
Both invoices are about 1.9% higher than the price of the goods:
\(\frac{($1106.50-$1086)}{$1086}= \frac{($706.08-$693)}{$693} = 0.01887.\)
This suggests that the tax rate is higher than the discount rate and that the difference between the rates will be in the neighborhood of 2%. This estimate makes a systematic trial and error possible. Trying a 3% discount and 5% tax comes close but is a bit low. A discount of 5% and a tax rate of 7.25% fits the bill.
Statistics : Posted by Sajjad1994 • on 06 Oct 2023, 22:31 • Replies 5 • Views 413
