The total cost of a tie and a pair of of pants was$87.76. If the price of the tie was $5.64 less than the pair of pants, what was the price of the tie? Express your answer as a simplified fraction or a decimal rounded to two places.

Let t = the cost of the tie and p = the cost of the pants

t + p = 87.76

We know the cost of the tie (t) is equal to 5.64 less than the pants then we can write:

t = p-5.64

Substitute back into the original equation

(p-5.64) + p=87.76

2p = 93.4

p=46.7

Substitute p back into the original equation

t+46.7 = 87.76

t=41.06

We can verify this is true by adding them back together to get 87.76.