Question

A growers' cooperative has a farmer's market in the town
center every Saturday. They sell what they have grown and
split the money into several categories. 8.5% of all the money
taken in is set aside for sales tax. $125 goes to pay the rent on
the space they occupy. What remains is split evenly between
the seven growers. How much total money is taken in if each
grower receives a $175 share?

Answer 1

The statement tells us several important things:

1. Of all the money collected from sales, 8.5% is for sales tax.

2. Of all the money collected from the sales, $125 goes to pay the rent for the space that I am using.

3. After deducting the taxes and the rented space, they divide the remaining money into 7 equal parts, which corresponds to $175.

To find the value of the money collected we first calculate the money that is known, i.e. the $175 for 7 of the growers and the $125 for the rent of the space.

$\begin{gathered} 175\cdot7+125 \\ 1225+125=1350 \end{gathered}$

This amount of money corresponds to the percentage remaining after taxes are taken out.

$100-8.5=91.5$

The percentage of this amount of money is 91.5%, the percentage of this amount of money is 91.5%.

$1350\cdot\frac{100}{91.5}=1475.4\cong1476$

In conclusion, the answer is $1476