Ted thomason found a good deal when he purchased a bedding set. he paid the store's clerk two $20 bills and a $5 bill. the clerk gave him $2.65 in change. if the sales tax is 7.2%, what was the selling price of the bedding set before taxe

The selling price of the bedding before tax is $39.51

Explanation:

Amount given to the clerk  = 2(20) + 5

                                            = 40 + 5

                                            = $45

Change received = $2.65

Amount paid = 45 - 2.65

                                       = $42.35

Let the selling price of the item without sales tax = C

With the sales tax at a rate of 7.2% ,

Sales tax = 7.2% × C

                = $0.072C

Total amount paid = selling price + Sales tax

Therefore

42.35 = C + 0.072C

42.35 = 1.072C

Divide both sides by 1.072

39.51 = C

C = $39.51

The selling price of the bedding set is $39.51

answer; foreign exchange transaction;