Tim works in a music store and earns a 3.8% commission on each sale. If Tim sells a banjo and earns $22.25, what was the price of the banjo? Round your answer to the nearest cent.

Percentage of commission that Time gets on each sale = 3.8%

Amount of commission earned by Tim by selling a banjo = $22.25

Let us assume the actual price of the Banjo = x dollars

Then

3.8% * x = 22.25

(3.8/100) * x = 22.25

3.8x = 22.25 * 100

3.8x = 2225

x = 2225/3,8 dollars

= 585.526 dollars

= 585.53 dollars

So the original price of the banjo that was sold by Tim was $585.53. I hope you have clearly understood the procedure.